Bloomberg View | Oil Today Is Cheaper Than in 1970 24/7 Wall St. In 1970 a barrel of crude oil averaged about $13 a barrel. Adjusted for inflation, that same barrel of oil should cost about $78 today. Instead, West Texas Intermediate (WTI) crude oil for April delivery traded at just under $50 a barrel in the noon ... Where Oil Prices Go From Here Saudi Oil Minister: OPEC Is Neither Dead Nor Waging War On Shale Oil Crude-oil prices rise as Saudi Arabia hints at rising demand |