In fact, there is no uniform international oil price. Many parts of the world are oil-producing areas, and the quality of oil produced in these oil-producing areas is not the same, resulting in certain differences in the prices of these oils, and there is no unified price.

1983, NYMEX (the New York Mercantile Exchange) launched the light sweet crude oil futures contract. This is commonly known as WTI crude oil futures. As the United States is the world's largest energy consumer, and NYMEX's WTI crude oil futures are the most active crude oil trading varieties, WTI crude oil prices are gradually used to explain "international crude oil prices".

According to the British financial situation, the lowest historical price of WTI crude oil was 9.75 USD/barrel, which appeared in1April, 986.

References:

British finance: WTI crude oil price