Oil price from 2019-2014:

From 2008-2009:

The world was facing the global economic and financial crisis. This severely affected the oil industry due the strong plunge in production and low demand of consuming.

In 2010:
The global economic recovery is expected to drive oil demand back up. Global oil production reaches 96 million barrels per day in the New Policies Scenario, the balance of 3 million barrel per day coming from processing gains. Worldwide upstream oil investment is set to bounce back in 2010, but will not recover all of the ground lost in 2009, when lower oil prices and financing difficulties led oil companies to slash spending.

From 2011-2013:
The oil industry continues its fast pace in developments. The market has also seen a significant increase in terminal and storage activity as trading companies capitalize on arbitrage opportunities. The crude oil markets sustained high price levels in these 3 years. 3 key factors affecting crude prices:
Demand growth in emerging markets, notably China and the Middle East, drove crude oil prices higher in 2011 as well
Output increases from Saudi Arabia (OPEC's largest producer) and the return of Libyan oil production helped dampen price increase
Disruptions in oil production in South Sudan, Yemen, Syria, and the North Sea reduced available global supplies, putting upward pressure on oil prices
Policymakers in the United States, Europe, and China took action to stimulate economic growth, which could increase oil