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.

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

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.

Urals Oil fell to 64.96 USD/Bbl on July 10, 2025, down 3.36% from the previous day. Over the past month, Urals Oil's price has risen 2.51%, but it is still 18.27% lower than a year ago, 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.

Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% 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.

Crude Oil Production in Venezuela increased to 1066 BBL/D/1K in May from 1051 BBL/D/1K in April of 2025. This dataset provides the latest reported value for - Venezuela Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Interactive historical chart showing the monthly level of U.S. crude oil exports back to 1991 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels exported per day.

Interactive chart showing the monthly closing price for No. 2 Heating Oil: New York Harbor since 1986. The prices shown are in U.S. dollars.

Crude Oil Production in Iraq decreased to 3605 BBL/D/1K in May from 3664 BBL/D/1K in April 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.

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 Iran decreased to 3303 BBL/D/1K in May from 3328 BBL/D/1K in April 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.

Crude Oil Production in Vietnam increased to 161 BBL/D/1K in March from 160 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Vietnam Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Jordan Imports of crude oil from Russia was US$42.28 Million during 2018, according to the United Nations COMTRADE database on international trade. Jordan Imports of crude oil from Russia - data, historical chart and statistics - was last updated on July of 2025.

Egypt Exports of crude oil to United States was US$91.12 Million during 2019, according to the United Nations COMTRADE database on international trade. Egypt Exports of crude oil to United States - data, historical chart and statistics - was last updated on June of 2025.

Thailand Exports of crude oil to Hong Kong was US$83 during 2022, according to the United Nations COMTRADE database on international trade. Thailand Exports of crude oil to Hong Kong - data, historical chart and statistics - was last updated on June of 2025.

Mexico Exports of crude oil to Cuba was US$280 during 2022, according to the United Nations COMTRADE database on international trade. Mexico Exports of crude oil to Cuba - data, historical chart and statistics - was last updated on June of 2025.

Jamaica Exports of crude oil to United States was US$596 during 2012, according to the United Nations COMTRADE database on international trade. Jamaica Exports of crude oil to United States - data, historical chart and statistics - was last updated on July of 2025.

Guyana Exports of crude oil to Panama was US$2.54 Billion during 2024, according to the United Nations COMTRADE database on international trade. Guyana Exports of crude oil to Panama - data, historical chart and statistics - was last updated on July of 2025.

Crude Oil Production in Nigeria decreased to 1453 BBL/D/1K in May from 1486 BBL/D/1K in April of 2025. This dataset provides the latest reported value for - Nigeria Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Crude Oil Production in Mexico decreased to 1697 BBL/D/1K in March from 1711 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Mexico Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.