You should spend about 20 minutes on this task.
The line graph shows the historical oil prices per barrel from 1973 to January 2009.
Summarize the information by selecting and reporting the main features, and make comparisons where relevant.
Write at least 150 words.
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Model Answer 1
The line graph illustrates the historical oil prices per barrel from 1973 to January 2009, showcasing the fluctuations over this period.
Overall, the price of oil experienced significant volatility, with moderate fluctuations in the first few decades, followed by a sharp rise in the 2000s, peaking around 2008, before a steep decline by January 2009. Notably, prices remained relatively low until 2000s, with sudden and sharp increases occurring later in the period.
In more detail, from 1973 to around 1981, oil prices saw a substantial increase, climbing from just above $0 to approximately $40 per barrel. Following this, prices fluctuated between $20 and $40 from the early 1980s to around 2003, without any major spikes. This was a period of relative stability despite some modest peaks and troughs.
However, a dramatic surge in prices began in the early 2000s. Starting around 2003, oil prices per barrel escalated rapidly, reaching a peak of approximately $140 by mid-2008. After this peak, there was an equally steep drop, with prices plummeting to about $40 per barrel by January 2009, marking the most significant and sudden fluctuation within the period covered by the graph.
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Model Answer 2
The line graph illustrates the historical oil prices per barrel from 1973 to January 2009, showing the various fluctuations over this time frame.
Overall, oil prices experienced a series of significant changes, with relatively modest fluctuations in the earlier decades followed by a sharp and rapid rise in the 2000s. The price reached its peak in 2008, before a steep decline by January 2009. The early years reflected lower price ranges, while the later years saw a dramatic escalation.
From 1973 to approximately 1981, the historical oil prices per barrel witnessed a sharp increase, rising from just above $0 to around $40 per barrel. In the decades following, from the early 1980s to roughly 2003, oil prices remained relatively stable, fluctuating between $20 and $40. This period saw no extreme surges, suggesting a phase of relative consistency with only minor price variations.
However, a dramatic shift occurred in the early 2000s, when oil prices began a rapid ascent from 2003 onwards. By mid-2008, they had skyrocketed to approximately $140 per barrel, marking the highest point during the period. After this peak, prices collapsed sharply, plunging to around $40 per barrel by January 2009, representing one of the most substantial and abrupt changes in the historical oil prices per barrel over the entire period.
Model Answer 3
The line graph depicts the historical oil prices per barrel from 1973 to January 2009, illustrating the key fluctuations during this period.
In general, oil prices were characterized by significant volatility, specially towards the later years. While the prices showed moderate movement between the 1970s and the late 1990s, they dramatically surged in the early 2000s, peaking around 2008, before plummeting sharply by the start of 2009.
Between 1973 and 1981, the historical oil prices per barrel saw a notable rise, jumping from slightly above $0 to around $40 per barrel. Subsequently, from the early 1980s until about 2003, prices generally oscillated between $20 and $40, with no significant spikes, suggesting a period of relative stability marked by minor peaks and dips.
A substantial increase began in the early 2000s, with oil prices rapidly accelerating from 2003 onward. They reached an all-time high of approximately $140 per barrel by mid-2008. However, this sharp rise was followed by a dramatic collapse, as the prices plunged to roughly $40 per barrel by January 2009. This represents one of the most extreme and sudden changes in the historical oil prices per barrel throughout the entire period shown on the graph.
Model Answer 4
The line graph depicts the historical oil prices per barrel from 1973 to January 2009, highlighting the key fluctuations over this 36-year period.
Overall, the price of oil demonstrated significant volatility, with relatively modest movements in the earlier decades, followed by a steep increase in the 2000s, culminating in a peak in 2008 before a sharp decline by early 2009. During most of the timeframe, prices remained lower, with more dramatic shifts observed toward the end of the period.
In greater detail, between 1973 and approximately 1981, the historical oil prices per barrel increased substantially, rising from just above $0 to around $40 per barrel. Following this, from the early 1980s until around 2003, the prices fluctuated within a relatively stable range between $20 and $40, with no major spikes or crashes, indicating a period of moderate stability.
However, a significant shift occurred from 2003 onwards, with oil prices rising sharply. By mid-2008, they had surged to roughly $140 per barrel, the highest point in the period. After this dramatic rise, prices plunged swiftly, falling back to approximately $40 per barrel by January 2009. This final period of rapid escalation and subsequent steep drop marked the most notable and abrupt change in the historical oil prices per barrel throughout the timeline.
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