Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

The price of crude oil in America is influenced by factors such as supply and demand dynamics, geopolitical tensions, global economic conditions, weather patterns, and government policies. Understanding these factors and monitoring relevant benchmarks like WTI and Brent crude are crucial for tracking and analyzing crude oil prices in America.

After some fluctuation in the oil industry's early years, where prices were incredibly high for that time period due to low supply, the cost of oil in the U.S. remained below five U.S. dollars per barrel in the century between the 1870s and 1970s. Due to the 1973 Arab-Israeli War, the Arab OPEC states then placed an embargo on Israel's allies, particularly the United States, which resulted in domestic prices almost doubling within two years. Less than a decade later, due to the Iranian Revolution, domestic prices in the U.S. more than tripled between 1978 and 1981. Domestic prices in the U.S. were very subject to those within the OPEC bloc, as OPEC-produced oil was often much cheaper than U.S. oil even after duties and transport fees were applied. U.S. production then fell from the 1980s to the 2010s, and high production costs were then passed on to consumers. Prices peaked between 2008 and 2013, at around 95 dollars per barrel, before the developments in unconventional oil industries, such as shale oil refinement, fracking, and horizontal mining, have seen prices fluctuate in recent years

Graph and download economic data for Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC) from Jan 1946 to Jun 2025 about WTI, crude, oil, price, and USA.

Mexico Crude Oil Mean Price: By Region: America data was reported at 58.920 USD/Barrel in Feb 2019. This records an increase from the previous number of 54.730 USD/Barrel for Jan 2019. Mexico Crude Oil Mean Price: By Region: America data is updated monthly, averaging 39.080 USD/Barrel from Jan 1993 (Median) to Feb 2019, with 314 observations. The data reached an all-time high of 122.890 USD/Barrel in Jul 2008 and a record low of 7.890 USD/Barrel in Dec 1998. Mexico Crude Oil Mean Price: By Region: America data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

On July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

China Import Price: Crude Oil: North America: Canada data was reported at 491.111 USD/Ton in Mar 2025. This records a decrease from the previous number of 502.688 USD/Ton for Feb 2025. China Import Price: Crude Oil: North America: Canada data is updated monthly, averaging 496.292 USD/Ton from May 2008 (Median) to Mar 2025, with 132 observations. The data reached an all-time high of 40,000.000 USD/Ton in Nov 2017 and a record low of 198.927 USD/Ton in Apr 2020. China Import Price: Crude Oil: North America: Canada data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Mexico Crude Oil Export Price: by Region: America: Istmo data was reported at 66.050 USD/Barrel in Apr 2018. This records an increase from the previous number of 64.670 USD/Barrel for Mar 2018. Mexico Crude Oil Export Price: by Region: America: Istmo data is updated monthly, averaging 31.498 USD/Barrel from Jan 1990 (Median) to Apr 2018, with 323 observations. The data reached an all-time high of 131.598 USD/Barrel in Jul 2008 and a record low of 9.405 USD/Barrel in Feb 1999. Mexico Crude Oil Export Price: by Region: America: Istmo data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

Graph and download economic data for Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Midwest Census Region - Urban (APU020072511) from Nov 1978 to Jul 2024 about fuels, energy, retail, price, and USA.

The North American crude oil market reached $578.8B in 2024, increasing by 3.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $626.2B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Get the latest insights on price movement and trend analysis of Fuel Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

China Import Price: Crude Oil: Latin America: Ecuador data was reported at 492.604 USD/Ton in Mar 2025. This records a decrease from the previous number of 518.424 USD/Ton for Feb 2025. China Import Price: Crude Oil: Latin America: Ecuador data is updated monthly, averaging 485.041 USD/Ton from Mar 2008 (Median) to Mar 2025, with 149 observations. The data reached an all-time high of 866.844 USD/Ton in Aug 2008 and a record low of 196.097 USD/Ton in Apr 2020. China Import Price: Crude Oil: Latin America: Ecuador data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Mexico Crude Oil Export Price: by Region: America data was reported at 63.676 USD/Barrel in Apr 2019. This records an increase from the previous number of 60.964 USD/Barrel for Mar 2019. Mexico Crude Oil Export Price: by Region: America data is updated monthly, averaging 29.738 USD/Barrel from Jan 1990 (Median) to Apr 2019, with 352 observations. The data reached an all-time high of 122.893 USD/Barrel in Jul 2008 and a record low of 7.895 USD/Barrel in Dec 1998. Mexico Crude Oil Export Price: by Region: America data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (DHOILNYH) from 1986-06-02 to 2025-07-07 about new york harbor, heating, New York, oil, commodities, and USA.

According to a 2025 survey, oil producers operating in the Permian region needed WTI oil prices to amount to a minimum of ** U.S. dollars per barrel in order to profitably drill a new well. This compared to a minimum breakeven price of ** U.S. dollars per barrel for existing wells. The monthly average WTI oil price ranged between ** and ** U.S. dollars per barrel around the time of the survey. Most productive oil basins Operators in shale basins have the lowest average breakeven prices for new wells. However, when it comes to existing wells, operators in the Permian (Delaware) basin can afford even lower oil prices. The Permian basin, located in Texas and New Mexico, accounts for the greatest U.S. oil production output of any region. In 2024, production in the Permian reached nearly *********** barrels per day - more than **** times the amount extracted from the neighboring Eagle Ford rock formation. Texas is leading oil producing state With both regions located in Texas, it is not surprising that this is also the leading crude oil producing U.S. state. Nearly two billion barrels worth of crude oil were extracted in Texas per year, far more than any other state. Texas is home to a total of five major oil and gas formations.

Mexico Crude Oil Export Price: by Region: America: Maya data was reported at 64.423 USD/Barrel in Apr 2019. This records an increase from the previous number of 61.619 USD/Barrel for Mar 2019. Mexico Crude Oil Export Price: by Region: America: Maya data is updated monthly, averaging 28.951 USD/Barrel from Jan 1990 (Median) to Apr 2019, with 352 observations. The data reached an all-time high of 120.787 USD/Barrel in Jul 2008 and a record low of 6.250 USD/Barrel in Dec 1998. Mexico Crude Oil Export Price: by Region: America: Maya data remains active status in CEIC and is reported by Petroleos Mexicanos. The data is categorized under Global Database’s Mexico – Table MX.P001: Crude Oil Price.

The first quarter of 2025 for Crude Oil prices in the North American region experienced a decline followed by an uptrend. In January 2025 oil prices maintained an upward trajectory.

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

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The crude oil market has the potential to grow by 4781.60 million barrels during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 2.73%.

This crude oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by production area (onshore and offshore) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including BP Plc, Chevron Corp., and ConocoPhillips Co., among others.

What will the Crude Oil Market Size be in 2021?

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Crude Oil Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing upstream investment is notably driving the crude oil market growth, although factors such as fluctuations in global crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the crude oil industry get your FREE report sample now.

      The rising energy demand across the world has prompted governments to explore untapped oil and gas resources in the upstream sector, using advanced technologies.
      The production of oil and natural gas is declining from many conventional oilfields. To overcome this issue, oil and gas operators are increasing investments in mature oil and gas fields.
      The adoption of unconventional exploration and production technologies in large shale deposits has widened opportunities for upstream oil and gas companies.
      The growing investments in the upstream oil and gas sector will significantly influence crude oil market growth over the forecast period.




      Technological development in the hydraulic fracturing process is aiding in the exploration and production of oil and gas from shale plays.
      The advances in the drilling technology and proppant placement in downhole wells increased hydrocarbon recovery from unconventional wells.
      Technological advances such as integration of the internet of things (IoT) for data acquisition, as well as the use of data analytics and machine learning, supports the efficiency of tools that is one of the key crude oil market trends.
      Real-time pressure data is crucial in crude oil production as it eliminates the over-fracturing issue.
      Automation of hydraulic fracturing optimizes the hydraulic fracturing method using algorithmic controls and supports enhanced well performance.

This crude oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Crude Oil Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
Petroleo Brasileiro SA
Qatar Petroleum
Rosneft Oil Co.
Royal Dutch Shell Plc
Saudi Arabian Oil Co.

The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the crude oil market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Crude Oil Market?

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44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for crude oil in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Production Area Segments in the Crude Oil Market?

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The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and pr

The Latin American crude oil market rose modestly to $134B in 2024, with an increase of 4.8% against the previous year. In general, consumption, however, saw a noticeable descent. The level of consumption peaked at $197.3B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.