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Obtain World Daily Spot Prices for Crude Oil With An API

Are you interested in investing in crude oil? Do you want to receive information about your finances in the stock market on a daily basis? Read this post about getting crude oil prices historical data api that will help you!

Crude oil is a petroleum product made up of hydrocarbon deposits and other organic elements that occurs spontaneously. Crude oil is a type of fossil fuel that is refined into useable products such as gasoline, diesel, and a variety of other petrochemicals.

According to the most recent data from the IEA, an average of 100 million barrels of oil were produced per day worldwide in 2018. That includes 32 million barrels a day of crude oil only, and 68 million barrels of crude oil, condensates, NGLs and oil from non-conventional sources.

Obtain World Daily Spot Prices for Crude Oil With An API

The top five oil-producing nations are responsible for over half of the world’s production of crude oil. The top five oil producing countries in 2019 to date are: United States, Canadá, Saudi Arabia, Russia and Iraq.

During periods of high oil and gas prices, oil and gas equities may yield big capital gains as well as attractive dividend income. Oil corporations tend to create gushes of cash when crude oil prices climb. This frees up cash to drill new wells to boost oil and gas production, pay down debt, repurchase shares, and pay dividends, all of which can boost shareholder value.

Due to the amount of cash that oil companies can generate during good times, dividend payouts in the industry tend to be higher than usual, crude oil remains one of the most profitable products in the market. To keep you updated to its price, we recommend the use of Commodities-API

An Introduction Of Commodities-API

It’s a free online API service that provides real-time commodity information, such as coffee, rice, and maize. Commodities-API, on the other hand, offers an exchange in any currency, with two decimal places of precision and a list of 170 market goods. In fact, if you want to check how previous months or years’ statistics were, it has that information as well, so you can choose the best way to finance your money and move in the market.

Obtain World Daily Spot Prices for Crude Oil With An API

The Site’s Registering

Commodities-API has the benefit of being extremely user-friendly. Take the following steps to do so:

• Visit the website and register as a user.

• Pick a currency and a product to sell.

• On the dashboard, make an API call, and the application will respond with an API response, and you’re good to go!

Exact Information

The API can provide real-time commodities data with a two-decimal-point precision and a 60-second frequency. Commodities-API is designed on a solid back-end architecture that guarantees high availability and response times for defined API requests of fewer than 50 milliseconds.

A Secure Platform

Commodities-API It’s a secure platform that encrypts web-to-web connections with SSL encryption. Financial firms utilize this type of security. This API then retrieves information from financial organizations or even the World Bank.

Published inTechnology
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