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Oil Authority›Glossary›P›probability

probability

A numerical estimate of the chances of an event occurring given a limited number of opportunities for the event to occur.

In the News

WTI Crude Falls to $84.88 as Iran-US Hormuz Deal Probability Reaches 80 Percent, Already Below EIA Forecast

Prices & MarketsJun 14, 2026
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PEF

What

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