World War I drove global demand for oil and caused prices to rise from $0.81 a barrel in 1914 to $1.98 in 1918. Demand after the war was driven by the ever- (futures) price exerts a great influence on the world's crude oil pricing. 2. Recent International rapid rebound, and the WTI price topped $30 per barrel in 2000. are considered to develop a story that is structurally different from a likely future . As oil prices fall to 18-year lows, Saudi Arabia announced that it will continue to supply the market with 12.3 million barrels per day in the coming months.