On July 21, 2025, the Brent crude oil price stood at 68.98 U.S. dollars per barrel, compared to 67.2 U.S. dollars for WTI oil and 70.65 U.S. dollars for the OPEC basket. Brent and OPEC prices fell slightly that week, while WTI prices rose.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 (where a contract is agreed upon while 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.

Analyzing the one-year chart of crude oil can provide insights into its price movement and market trends. This article discusses the factors influencing crude oil prices, the impact of the COVID-19 pandemic, and the future trajectory of oil prices.

The article explores the fluctuations and events that have shaped the global economy within the crude oil price graph over the past 10 years. It examines the impact of geopolitical tensions, production changes, demand fluctuations, and the unprecedented effects of the COVID-19 pandemic. The article highlights the volatility and sensitivity of crude oil to various factors and their influence on the global economy.

Crude Oil Production in Norway increased to 1777 BBL/D/1K in March from 1733 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Norway Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Explore the factors influencing crude oil prices, including geopolitical tensions, OPEC decisions, and technological advancements. Understand the historical context, the role of OPEC, and how technical and fundamental analyses impact trading opportunities. Learn how oil prices affect global currencies and the influence of environmental policies on future demand.

Urals Oil fell to 63.86 USD/Bbl on July 23, 2025, down 2.87% from the previous day. Over the past month, Urals Oil's price has fallen 1.66%, and is down 17.20% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Crude oil price charts provide valuable information about pricing trends and historical data. Learn how analysts, investors, and traders utilize these charts to make informed decisions. Explore the features of crude oil charts, including the Brent crude oil chart and additional technical indicators. Discover how traders, investors, and analysts use these charts and where to find them. Understand the factors that influence crude oil prices and how price charts can help navigate the market.

Graph and download economic data for CBOE Crude Oil ETF Volatility Index (OVXCLS) from 2007-05-10 to 2025-07-22 about ETF, VIX, volatility, crude, oil, stock market, and USA.

Explore the complexities of crude oil price charts, examining the factors influencing oil prices including geopolitical events, economic data, and policy decisions by OPEC. Understand how these charts reflect market trends, technological advancements, and environmental concerns, providing insights for traders and decision-makers.

The annual price of West Texas Intermediate (WTI) crude oil is expected to reach an average of 61.81 U.S. dollars per barrel in 2025, according to a May 2025 forecast. This would be a decrease of roughly 15 U.S. dollar compared to the previous year. In the first months weeks of 2025, weekly crude oil prices largely stayed below 70 U.S. dollars per barrel amid trade tariffs and expected economic downturn. What are benchmark crudes? WTI is often used as a price reference point called a benchmark (or ”marker”) crude. This category includes Brent crude from the North Sea, Dubai Crude, as well as blends in the OPEC reference basket. WTI, Brent, and the OPEC basket have tended to trade closely, but since 2011, Brent has been selling at a higher annual spot price than WTI, largely due to increased oil production in the United States. What causes price volatility? Oil prices are historically volatile. While mostly shaped by demand and supply like all consumer goods, they may also be affected by production limits, a change in U.S. dollar value, and to an extent by market speculation. In 2022, the annual average price for WTI was close to the peak of nearly 100 U.S. dollars recorded in 2008. In the latter year, multiple factors, such as strikes in Nigeria, an oil sale stop in Venezuela, and the continuous increase in oil demand from China were partly responsible for the price surge. Higher oil prices allowed the pursuit of extraction methods previously deemed too expensive and risky, such as shale gas and tight oil production in the U.S. The widespread practice of fracturing source rocks for oil and gas extraction led to the oil glut in 2016 and made the U.S. the largest oil producer in the world.

Graph and download economic data for Global price of Brent Crude (POILBREUSDM) from Jan 1990 to Jun 2025 about crude, oil, World, and price.

Crude Oil Production in Iraq increased to 3627 BBL/D/1K in June from 3605 BBL/D/1K in May of 2025. This dataset provides the latest reported value for - Iraq Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Heating Oil fell to 2.45 USD/Gal on July 24, 2025, down 0.16% from the previous day. Over the past month, Heating Oil's price has risen 6.48%, but it is still 0.98% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on July of 2025.

Key information about United States Crude Oil: Production

• United States Crude Oil: Production was reported at 12,927.088 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 11,910.573 Barrel/Day th for Dec 2022
• US Crude Oil: Production data is updated yearly, averaging 8,135.663 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 12,927.088 Barrel/Day th in 2023 and a record low of 4,999.727 Barrel/Day th in 2008
• US Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

The WTI Crude Oil Futures Price Chart provides a visual representation of the historical prices of West Texas Intermediate (WTI) crude oil futures. Traders, investors, and analysts can use this chart to track price movements, study historical price patterns, and compare current prices with historical data. Additionally, the chart may include features such as trading volume and open interest to provide further insights into the market. However, it is important to consider other factors such as geopolitical e

Interactive historical chart showing the annual level of U.S. crude oil reserves back to 1900 from the US Energy Information Adminstration (EIA). Values shown are in millions of barrels.

Crude Oil Production in Cuba remained unchanged at 26 BBL/D/1K in March. This dataset provides - Cuba Crude Oil Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Azerbaijan decreased to 577 BBL/D/1K in March from 581 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Azerbaijan Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

A crude oil price chart for the past 10 days demonstrates the fluctuating nature of crude oil prices and highlights the various factors that influence its volatility, including global demand and supply, geopolitical events, and economic indicators. This article provides a detailed analysis of the price movements over the 10-day period, showcasing how tensions in the Middle East, growing demand, concerns over economic growth, unexpected inventory increases, and the impact of the COVID-19 pandemic have all co

Crude Oil Production in Iran decreased to 3241 BBL/D/1K in June from 3303 BBL/D/1K in May of 2025. This dataset provides the latest reported value for - Iran Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.