This chart shown above represents the oil prices (per barrel) on the y-axis, and the years on the x-axis. As seen in this chart, there has been a gradual increase from the year 2000 till 2008. In 2008 there was a major drop in prices because there were concerns that demand for energy will drop as the global economy slows. After that 8 month drop the price have been increasing at a greater rate up until today
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