oil price
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oil price
The price that must be paid on the world market for a certain amount of crude oil, usually one barrel (approx. 159 liters). It is an important indicator for the global economy.
Politische Krisen im Nahen Osten führen oft zu einem schnellen Anstieg des Ölpreises.
Political crises in the Middle East often lead to a rapid rise in the oil price.
'Ölpreis' (oil price) is a simple compound made from 'das Öl' (oil) and 'der Preis' (price). So it directly refers to the price of oil.
Der Ölpreis wird von Angebot und Nachfrage bestimmt.
The oil price is determined by supply and demand.
Verbs that describe a change are often used in connection with the oil price. Typical ones are: 'der Ölpreis steigt/sinkt/fällt' (the oil price rises/drops/falls), 'erholt sich' (recovers), or 'bleibt stabil' (remains stable).
Nach der Ankündigung sank der Ölpreis deutlich.
After the announcement, the oil price dropped significantly.
The pattern 'raw material + price' is very common in German for naming the cost of goods. Other examples are 'der Gaspreis' (gas price), 'der Strompreis' (electricity price), or 'der Benzinpreis' (petrol/gasoline price).
Nicht nur der Ölpreis, auch der Gaspreis ist in diesem Winter sehr hoch.
Not only the oil price, but also the gas price is very high this winter.