Here's Why Oil Prices Have Tanked Four Times In Three Decades

Oil prices have have rebounded more than 40 percent over the past month, a welcome change for industrial distributors with customers tied to the oil and gas industry. So why did oil prices fall so far to begin with? Bloomberg examines the causes behind this one, and those in the past.

Bloomberg
Mar 17, 2016

Oil prices have have rebounded more than 40 percent over the past month, a welcome change for industrial distributors with customers tied to the oil and gas industry. So why did oil prices fall so far to begin with? Bloomberg examines the causes behind this one, and those in the past.

Latest in Economy
B2B Digital-Assisted Selling at Its Best
Sponsored
B2B Digital-Assisted Selling at Its Best
June 18, 2025
Federal Reserve Board Chairman Jerome Powell during a Senate Banking Committee hearing, June 25, 2025, Washington.
Fed's Powell Repeats Warning About Tariffs
June 26, 2025
A shopper pushes a cart in a Costco warehouse, Jan. 23, 2025, Sheridan, Colo.
U.S. Economy Shrank 0.5% Between January and March
June 26, 2025
Federal Reserve Board Chairman Jerome Powell during a House Committee on Financial Services hearing, June 24, 2025, Washington.
Powell Says Fed Rate Cut on Hold as Trump Demands Cuts
June 25, 2025
Related Stories
A shopping cart filled with groceries at a store in Rowland Heights, Calif., April 3, 2025.
Economy
Key Inflation Gauge Rises as Americans Cut Back on Spending
Federal Reserve Board Chairman Jerome Powell during a Senate Banking Committee hearing, June 25, 2025, Washington.
Economy
Fed's Powell Repeats Warning About Tariffs
A shopper pushes a cart in a Costco warehouse, Jan. 23, 2025, Sheridan, Colo.
Economy
U.S. Economy Shrank 0.5% Between January and March
B2B Digital-Assisted Selling at Its Best
Sponsor Content
B2B Digital-Assisted Selling at Its Best
More in Economy
B2B Digital-Assisted Selling at Its Best
Sponsored
B2B Digital-Assisted Selling at Its Best
These capabilities help sales teams close deals, empower buyers, and consolidate the sales process into one platform.
June 18, 2025
Federal Reserve Board Chairman Jerome Powell during a Senate Banking Committee hearing, June 25, 2025, Washington.
Economy
Fed's Powell Repeats Warning About Tariffs
He added that most Fed officials support cutting rates this year.
June 26, 2025
A shopper pushes a cart in a Costco warehouse, Jan. 23, 2025, Sheridan, Colo.
Economy
U.S. Economy Shrank 0.5% Between January and March
The decline was worse than two earlier estimates had revealed.
June 26, 2025
Federal Reserve Board Chairman Jerome Powell during a House Committee on Financial Services hearing, June 24, 2025, Washington.
Economy
Powell Says Fed Rate Cut on Hold as Trump Demands Cuts
He told lawmakers that the central bank remains in a position to "wait and see.”
June 25, 2025
A shopper selects a carton of 18 Large Grade A eggs from a cooler in a Costco Warehouse in Cranberry, Pa., Jan. 28, 2025.
Economy
Americans Sour on U.S. Economy and Anxiety Over Tariffs Remains the Chief Culprit
The regression surprised economists, who had expected a small uptick this month.
June 25, 2025
I Stock 1167033557
Economy
Slight Uptick in Metalformers' Optimism
Daily shipping levels remained steady.
June 24, 2025
I Stock 113690314
Economy
Federal Reserve's Bowman Says Rate Cut Should Be on Table in July
The comments underscore the deep divisions among Fed officials.
June 24, 2025
Federal Reserve Board Chairman Jerome Powell during a news conference at the Federal Reserve in Washington, June 18, 2025.
Economy
Federal Reserve Leaves Key Rate Unchanged as It Awaits the Impact of Tariffs
Fed officials still foresee two interest rate cuts by the end of the year.
June 18, 2025
I Stock 2177449826
Economy
April 2025 U.S. Cutting Tool Orders Total $212.8M, Up 2.7% from March
Year-to-date shipments totaled $818.3 million, a drop of 5.1% from the same period in 2024.
June 18, 2025
A 'Tariff Free' sign at an automobile dealership in Totowa, N.J., April 30, 2025.
Economy
Retail Sales Slide After a Spring Spending Surge to Beat Tariffs
The sales drop is hitting after sharp declines in consumer confidence this year.
June 17, 2025
Federal Reserve Chairman Jerome Powell after speaking at the 75th anniversary conference of the Federal Reserve Board's International Finance Division, Washington, June 2, 2025.
Economy
Fed Officials in Limbo as Tariffs Complicate Rate Decision
Policymakers are expected to keep the key interest rate unchanged.
June 17, 2025
President Donald Trump drops papers as he meets with Britain's Prime Minister Keir Starmer on the sidelines of the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada.
Economy
U.S., UK Strike Trade Deal on Auto, Aerospace Tariffs
How to handle steel production remains unresolved.
June 17, 2025
Sad Manufacturer
Economy
Tariffs Tank U.S. Manufacturing Outlook While China Grows, Report Says
"Tariffs have put a damper on what was expected to be a good year for global manufacturing."
June 16, 2025
Screenshot 2025 03 21 At 9 04 25 Am 67dd720424d62
Economy
Rubix Launches ‘Uptime Index’ Manufacturing Indicator
The European distribution giant said that the index helps measure the industry’s “oxygen.”
June 13, 2025
A shopper passes by the display of cartons of eggs in a Walmart store, Feb. 7, 2025, Englewood, Colo.
Economy
Producer Prices Rise a Modest 2.6% in May
The readings were slightly lower than economists had forecast.
June 13, 2025