How disruptions in oil markets can drive up the price of everyday goods

View a sample of objects surprisingly derived from crude oil, including chewing gum and lipstick

Crude oil processing produces a variety of fuels and the building blocks for plastics, but it also distills out the hydrocarbons used to make aspirin, Teflon, vinyl, crayons, candles, Tupperware, roofing shingles, asphalt pavement, hair dye, anesthetics, food-grade lubricants, polyester, synthetic rubber, and resins for items like dentures.

See where the 100 million barrels of crude oil the world consumes daily end up.

Many plastic products are molded from melted pellets called nurdles, which are made from ethylene and propylene extracted from crude oil.

Hear Steve Ballmer explain how US gas prices are affected by the global price of oil.

The price of crude oil accounts for roughly half of the price displayed at the gas pump

Oil markets are seeing higher costs and lower prices amid tech breakthroughs

Experts say oil demand has not yet reached its peak. Recent technological breakthroughs in the oil industry include advances in drilling and extraction, as well as subsurface technologies.

Fracking has led to an increased global oil supply, contributing to lower oil prices

Fracking technology has significantly increased how much crude oil the US produces. As more countries adopt fracking technology, there could be an increased downward pressure on prices—although fracking has been widely criticized for its negative environmental impacts.

Unless prices of fossil fuels rise significantly, their production is expected to slow

US oil and natural gas production skyrocketed from 2000 to 2020, largely due to advances in fracking. However, weak global energy prices have prevented this boom from translating into increased profits for fossil fuel companies.

Beyond oil, the Iran war has pushed up costs on fertilizer, prescriptions, and mortgages.

View the 45 gallons of refined products created from each 42-gallon barrel of crude oil

More than 85% is refined into fuels, such as gasoline and diesel, while about 10% is converted into raw materials for plastics, synthetic rubbers, and other essential products, such as lubricants. Because the majority of these products are less dense than the starting crude oil and additional inputs are introduced during the refining process, there is a processing gain of three gallons.

The history of natural and synthetic plastics

From cheap toys to woolly jumpers, plastic can be found in more products than many people realize. From a chemist's perspective all these things are made of the same class of materials: Polymers. And the distinction between which ones we happen to call "plastics" and which ones we don't is fairly arbitrary.

Oil shocks, war, and the 1970s crisis that remade American energy and economics

The oil crises of the 1970s—fueled by Middle East conflict and OPEC's dominance—triggered inflation, price controls, and policy failure. But they also accelerated fracking, alternative energy, and the rise of free-market economics.

How plastic manufacturing could be sustainable again

From polymers to nurdles, learn how plastic is created and what we can do to slow the lasting repercussions this material will have on both our planet and our lives.

To use the various chemicals in crude oil, they must often be cracked—broken down into smaller molecules—to make their processing easier in everyday machines.

Why have gas prices surged nearly 27% since the Iran war began?

Oil passing through the Strait of Hormuz makes up only about 7% of US crude imports. However, crude oil prices account for 51% of the cost of a gallon of gas in the US. US refiners pay the Brent crude futures price, even for domestic drilling.

Rising fracking rates have increased prices of some food products

Every fracking well uses approximately 20,000 pounds of guar gum, a thickening and stabilizing agent commonly used in ice cream, salad dressing, and baked goods. The polysaccharide is also a key component in some cosmetics and explosives.

Despite being derived from crude oil, which itself comes from organic material, synthetic plastic isn't biodegradable because it hasn't existed long enough for microbes to have developed mechanisms to break it down.

While major oil spills result from accidental pipeline ruptures or damage to transportation vessels or rigs, as much as half the oil that reaches coastlines has naturally leaked from the seafloor.

Oil prices spiked when Russia invaded Ukraine in 2022

The price of a barrel of Brent crude experienced volatility in the early 2020s. This chart shows price spikes at the beginning of the pandemic and again when Russia invaded Ukraine.

OPEC often intervenes to influence the price of oil

This guide explains how investing in oil works with in-depth explanations of each of the forces that control oil’s price. Oil is unique as a commodity in part because of OPEC’s role in regulating its price.

How chemical recycling could create 'infinite' plastic

The way we normally recycle plastics is a downward spiral of waste and degraded materials, but there is another option—turning plastic back into the oil it was made from.

Learn about the seven types of plastic, including their recyclability, toxicity, health risks, and common uses.

Understanding why the US can't use its own crude oil and depends on global markets

Before advancements in fracking technology made lighter shale oil readily available, US refineries had been built and optimized for decades to process heavier oil from other countries with high profitability. Despite being able to refine lighter oil, US oil companies can operate with better margins by exporting it to other nations whose refineries are optimized for it and importing heavier oil, for which the US has the infrastructure.

See a timeline that shows how volatile oil prices have been for decades, from OPEC-led embargoes in the 1970s and shale surges in the 2000s to the US flipping to become a net oil exporter in 2020.

How Big Oil misled the public into believing plastic would be recycled

An NPR and PBS Frontline investigation reveals how the oil and gas industry used the promise of recycling to sell more plastic, even when they knew it would never work on a large scale.

The prevalence of microplastics came from plastic’s affordability and versatility

Microplastics' durability and overuse have led to massive pollution that overwhelms the planet's ecosystems. Avian, terrestrial, and marine life have been observed to contain microplastics in their bodies, but reverting to paper, cotton, and other materials in manufacturing also brings environmental challenges.

Trace the rise of oil: from early drilling to today’s global power

This animated map video vividly illustrates how petroleum shaped global politics and industry—from 18th-century uses and 19th-century drilling booms in North America to today’s OPEC strategies, shale revolution, and geopolitical oil influence.

Despite the misconception that it comes from dinosaurs, crude oil forms when microorganisms, such as algae and plankton, are subjected to high pressure and high temperature while buried under layers of sediment.

The number of annual oil spills has dropped dramatically since the 1970s

Oil spills from oil tankers—which can have a sharp, short-term impact on oil prices—have become increasingly rare over the decades in part because of stricter regulations.

The recorded history of crude oil use dates back about 5,000 years, with the Babylonians using it to waterproof their boats and as mortar in the construction of structures.

The global plastic crisis in images

For decades we have relied on plastics to keep us safe, insulate our homes, and make sure our food stays fresh. But when does plastic's life come to an end?

Explore a timeline of US dependence on crude oil from 1850 to 2023

Oil dependence began with the rise of oil as a commodity, followed by an era of geopolitical competition for the resource after World War II. The domestic fracking boom, which started around 2006, was driven by a desire to reduce the nation's dependence on international adversaries for energy.

The 1973 oil embargo by OPEC inspired advances in alternative energy technology

The shortages imposed by the Organization of Petroleum Exporting Countries (OPEC) created a global energy crisis and economic instability after the Arab-Israeli War. This led to investments in green technologies and improvements in automobile fuel efficiency and manufacturing.

Iran's 1979 revolution sparked a second oil shock—and reconfigured global energy markets.

View the estimated decomposition times for various everyday plastic products, which often fragment into smaller microplastics as molecular bonds are weakened by sunlight.

The amount of plastic chemicals in 300 everyday Bay Area foods

Food production is more complicated than it appears, and manufacturing, packaging, and shipping processes can add significant substances to your food. This massive project compiled data on 300 samples of foods delivered to the San Francisco area, testing for the presence of 18 different kind of plastic. Learn how to read the data here with its helpful guides and then explore the table yourself.

The US exported more crude oil and petroleum products than it imported in 2025

In fact, the US has been exporting more oil and petroleum products than it imports since August 2021. Petroleum and petroleum product exports totaled about 10.7 million barrels per day, whereas imports totaled about 7.9 million barrels per day.

Research suggests microplastics disrupt photosynthesis in plants and algae, and this damage in crops may already rival the impact of climate change on food supplies.

Crude oil is the type of oil used to create fuel like gasoline, heating oil, and more

Technically speaking, crude oil is unrefined petroleum. This article dives into the different ways it’s categorized (by density, sulfur content, and origin), and how the combinations of these types of oil are used.

The ins and outs of oil refining

The oil industry is broken up into the upstream, midstream, and downstream segments, and oil refining is part of the latter. “Downstream” refers to companies like Standard Oil that are converting crude oil into a finished product.

Lessons from the 1973 energy crisis still echo in today’s geopolitical battles over oil

The video from the Economist highlights how energy supply disruptions can be weaponized—just as in 1973, today’s gas cutoffs (Russia throttling supplies to Europe after their invasion of Ukraine) reveal the ongoing importance of strategic energy resilience.

OPEC's 1973 embargo sparked the first global energy shock.

How artificial photosynthesis can help make plastics and fuels using sunlight

These systems link a molecular light absorber to a catalyst that can synthesize fuels—such as ethanol—and ethylene, a precursor to plastics, in a carbon-neutral manner. Because these byproducts have greater energy concentrations than the carbohydrates produced by photosynthetic organisms, research is ongoing to engineer the necessary catalysts.

Demystifying the claim that crude oil is inorganically created and a renewable resource

The abiogenic petroleum theory holds that fossil fuels originate in Earth's mantle and are constantly replenished, rather than formed by microorganisms over millions of years. While inorganic chemical processes can produce simple hydrocarbons, the range of complex molecules found in crude oil suggests an origin from a diverse set of organisms. Isotope analyses of these molecules also support the model that they originated from living things that preferentially take up certain isotopes over others.

How crude oil is split across oil markets based on geographic origin

Brent, West Texas Intermediate, and Dubai are the three crude oil classes and differ in terms of typical refinery uses, density, sulfur content, and suitability for financial benchmarking. Brent, which originates in the North Sea, is traders' go-to benchmark, in part, because it is easily shipped and politically stable, and used to price most of the crude sold internationally.

As of 2023, more than 130 nations have enacted bans or restrictions on plastic items, starting with Bangladesh's ban on plastic bags in 2002.

Plastic's history began with an inventor seeking a $10,000 prize offer

In 1869, the first synthetic polymer—celluloid—was created as a substitute for ivory in billiard balls. It became the historical catalyst for the eventual manufacturing of plastics everywhere as an alternative to the depletion of other natural resources, including tortoiseshell and horns.

Federal subsidies have boosted US fracking profits

Between 2000 and 2020, the US government invested tens of billions of dollars to facilitate the extraction of shale oil and gas reserves. These subsidies helped make new projects viable and kept fossil fuel companies afloat while global energy prices and renewable energy startup costs have fallen.

Research shows that microplastics and nanoplastics can accumulate in major arteries, and patients with these deposits are significantly more likely to suffer heart attacks, strokes, or death.

An overview of crude oil, including its constituent hydrocarbons and refinement outputs

The mixture is primarily composed of molecules of carbon and hydrogen atoms bonded into a variety of shapes and lengths, giving each different chemical properties, such as boiling points. Refining can remove elemental impurities—such as sulfur—after hydrocarbons are separated, ensuring the resulting products can be used effectively in other machines, such as car engines.