Crude Oil fell to 65.98 USD/Bbl on June 24, 2025, down 3.70% from the previous day. Over the past month, Crude Oil's price has risen 8.36%, but it is still 18.37% 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 June of 2025.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

On June 23, 2025, the Brent crude oil price stood at 70.98 U.S. dollars per barrel, compared to 68.51 U.S. dollars for WTI oil and 76.19 U.S. dollars for the OPEC basket. OPEC prices rose that week following expected supply constraints related to the Israel-Iran conflict.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.

Stocks of crude oil in the United States decreased by 4.30million barrels in the week ending May 30 of 2025. This dataset provides the latest reported value for - United States Crude Oil Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

U.S. crude oil inventories increased significantly, while gasoline and distillate stocks fell, according to the latest EIA report. Learn about the market impacts.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Interactive daily chart of Brent (Europe) crude oil prices over the last ten years. Values shown are daily closing prices.

Brent rose to 67.12 USD/Bbl on June 9, 2025, up 0.98% from the previous day. Over the past month, Brent's price has risen 3.33%, but it is still 17.77% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on June of 2025.

US crude oil stocks are projected to fall as gasoline and distillate inventories increase, based on analyst forecasts.

U.S. crude oil futures saw a significant drop over $1 due to unexpected inventory data indicating oversupply, with WTI crude futures falling by 1.9%.

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.

Analysts forecast a drop in U.S. crude oil inventories, with distillate and gasoline stocks also declining. Rising refinery utilization suggests higher demand expectations.

Measurements of particle size distributions of Louisiana sweet crude oil in two-phase jets with an endoscopic measuring system. Generation of a number of pictures at one height above the orifice to determine the particle size distribution. The dataset includes the raw data. For data about the particle size distributions of methane jets under high pressure, please refer to C-IMAGE II dataset R4.x267.178:0005.

API Crude Oil Stock Change in the United States increased to -3.30 BBL/1Million in May 30 from -4.24 BBL/1Million in the previous week. This dataset provides - United States API Crude Oil Stock Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Brent crude oil is projected to have an average annual spot price of 65.85 U.S. dollars per barrel in 2025, according to a forecast from May 2025. This would mean a decrease of nearly 15 U.S. dollars compared to the previous year, and also reflects a reduced forecast WTI crude oil price. Lower economic activity, an increase in OPEC+ production output, and uncertainty over trade tariffs all impacted price forecasting. All about Brent Also known as Brent Blend, London Brent, and Brent petroleum, Brent Crude is a crude oil benchmark named after the exploration site in the North Sea's Brent oilfield. It is a sweet light crude oil but slightly heavier than West Texas Intermediate. In this context, sweet refers to a low sulfur content and light refers to a relatively low density when compared to other crude oil benchmarks. Price development in the 2020s Oil prices are volatile, impacted by consumer demand and discoveries of new oilfields, new extraction methods such as fracking, and production caps routinely placed by OPEC on its member states. The price for Brent crude oil stood at an average of just 42 U.S. dollars in 2020, when the coronavirus pandemic resulted in a sudden demand drop. Two years later, sanctions on Russian energy imports, had pushed up prices to a new decade-high, above 100 U.S. dollars per barrel.

WS: PADD 2 data was reported at 170,029.000 Barrel th in 09 Feb 2024. This stayed constant from the previous number of 170,029.000 Barrel th for 02 Feb 2024. WS: PADD 2 data is updated weekly, averaging 170,208.000 Barrel th from Jan 2020 (Median) to 09 Feb 2024, with 213 observations. The data reached an all-time high of 172,749.000 Barrel th in 20 Mar 2020 and a record low of 170,029.000 Barrel th in 09 Feb 2024. WS: PADD 2 data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.

United States WS: PADD 2: Fill & Stocks in Pipelines & In-Transit by Water & Rail data was reported at 44,106.000 Barrel th in 09 Feb 2024. This stayed constant from the previous number of 44,106.000 Barrel th for 02 Feb 2024. United States WS: PADD 2: Fill & Stocks in Pipelines & In-Transit by Water & Rail data is updated weekly, averaging 43,488.000 Barrel th from Jan 2020 (Median) to 09 Feb 2024, with 213 observations. The data reached an all-time high of 44,106.000 Barrel th in 09 Feb 2024 and a record low of 41,640.000 Barrel th in 25 Mar 2022. United States WS: PADD 2: Fill & Stocks in Pipelines & In-Transit by Water & Rail data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.

United States WS: PADD 5: Net Stocks Percent of Working Storage Capacity data was reported at 0.580 % in 09 Feb 2024. This records an increase from the previous number of 0.530 % for 02 Feb 2024. United States WS: PADD 5: Net Stocks Percent of Working Storage Capacity data is updated weekly, averaging 0.581 % from Jan 2020 (Median) to 09 Feb 2024, with 213 observations. The data reached an all-time high of 0.729 % in 29 May 2020 and a record low of 0.477 % in 27 Nov 2020. United States WS: PADD 5: Net Stocks Percent of Working Storage Capacity data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.

WS: PADD 3: Total Stocks data was reported at 250,264.000 Barrel th in 16 Feb 2024. This records an increase from the previous number of 248,349.000 Barrel th for 09 Feb 2024. WS: PADD 3: Total Stocks data is updated weekly, averaging 247,134.000 Barrel th from Jan 2020 (Median) to 16 Feb 2024, with 214 observations. The data reached an all-time high of 309,016.000 Barrel th in 03 Jul 2020 and a record low of 219,249.000 Barrel th in 17 Jan 2020. WS: PADD 3: Total Stocks data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.

United States WS: Fill & Stocks in Pipelines & In-Transit by Water & Rail data was reported at 137,235.000 Barrel th in 09 Feb 2024. This records a decrease from the previous number of 138,099.000 Barrel th for 02 Feb 2024. United States WS: Fill & Stocks in Pipelines & In-Transit by Water & Rail data is updated weekly, averaging 135,625.000 Barrel th from Jan 2020 (Median) to 09 Feb 2024, with 213 observations. The data reached an all-time high of 141,759.000 Barrel th in 01 Jul 2022 and a record low of 122,836.000 Barrel th in 29 May 2020. United States WS: Fill & Stocks in Pipelines & In-Transit by Water & Rail data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB052: Petroleum Supply: Weekly Crude Oil Storage Capacity (Discontinued). Released once a week (every Wednesday) with data for the previous week (Monday to Friday). If Wednesday falls on a holiday, the data will be released on the next business day.