On June 30, 2025, the Brent crude oil price stood at 66.64 U.S. dollars per barrel, compared to 65.11 U.S. dollars for WTI oil and 68.35 U.S. dollars for the OPEC basket. OPEC prices fell that week as concerns over supply constraints related to the Israel-Iran conflict eased.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.

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.

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 62.17000 $ per Barrel in May of 2025, according to the United States Federal Reserve. Historically, United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma reached a record high of 133.88000 in June of 2008 and a record low of 11.35000 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma - last updated from the United States Federal Reserve on July of 2025.

Weekly Crude Oil Production in the United States increased to 13435 Thousand Barrels Per Day in June 20 from 13431 Thousand Barrels Per Day in the previous week. This dataset includes a chart with historical data for the United States Weekly Crude Oil Production.

This dataset contains information about world's crude oil prices for 1861-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: 1861-1944 US Average 1945-1983 Arabian Light posted at Ras Tanura 1984-2016 Brent dated. $2020 (deflated using the Consumer Price Index for the US

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

Texas is by far the largest oil-producing state in the United States. In 2024, Texas produced a total of over two billion barrels. In a distant second place is New Mexico, which produced 744.6 million barrels in the same year. Virginia is the smallest producing state in the country, at three thousand barrels. Macro perspective of U.S. oil production The U.S. oil production totaled some 19.4 million barrels of oil per day, or a total annual oil production of 827 million metric tons in 2023. As the largest oil producer in the U.S., it is not surprising that Texas is home to the most productive U.S. oil basin, the Permian. The Permian has routinely accounted for at least 50 percent of total onshore production. Regional distribution of U.S. oil production A total of 32 of the 50 U.S. states produce oil. There are five regional divisions for oil production in the U.S., known as the Petroleum Administration for Defense Districts (PADD). These five regional divisions of the allocation of fuels derived from petroleum products were established in the U.S. during the Second World War and they are still used today for data collection purposes. In line with the fact that Texas is by far the largest U.S. oil producing state, PADD 3 (Gulf Coast) is also the largest oil producing PADD, as it also includes the federal offshore region in the Gulf of Mexico. There are around 590 operational oil and gas rigs in the country as of February 2025.

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.

United States Crude Oil Supply: Field Production data was reported at 11,142.000 1000 Barrel/Day in Oct 2018. This records an increase from the previous number of 11,047.000 1000 Barrel/Day for Sep 2018. United States Crude Oil Supply: Field Production data is updated monthly, averaging 7,435.340 1000 Barrel/Day from Jan 1973 (Median) to Oct 2018, with 550 observations. The data reached an all-time high of 11,345.511 1000 Barrel/Day in Aug 2018 and a record low of 3,973.586 1000 Barrel/Day in Sep 2008. United States Crude Oil Supply: Field Production data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB016: Petroleum Overview.

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

This dataset contains Weekly U.S. Exports of Crude Oil 2015 - 2021. Data from US Energy information administration.

Access monthly energy price assessments for Germany, featuring Crude Oil and other key energy commodities. Coverage includes 10-year price history, current values, short-term forecasts, and market trends. Updated on the 3rd business day of each month, the data offers insights on prices, supply, demand, production, and trade. Available via PDF reports, Excel Add-In, Power BI, and API. Coverage for United States and over 30 other countries is included in Intratec Energy Prices & Markets. Free preview available.

The US crude oil live chart provides real-time information about the price of US crude oil, allowing traders, investors, and enthusiasts to stay updated with the latest market trends. It includes price data, timeframe, technical indicators, volume, and news and analysis sections, making it a valuable tool for monitoring price movements and making informed decisions.

Crude Oil Imports in the United States increased to 2940 Thousand Barrels in June 27 from 531 Thousand Barrels in the previous week. This dataset provides - United States Crude Oil Imports- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The price of crude oil in the US market is determined by supply and demand forces, with various factors influencing these dynamics. This article explores the supply factors such as production levels, imports, and inventories, as well as the demand factors including economic growth and seasonal variations. Additionally, it discusses other influencing factors like exchange rates and speculation. It emphasizes the close link between the crude oil price in the US market and international oil prices, highlightin

United States Crude Oil: Exports: Other data was reported at 955.000 Barrel th in Sep 2018. This records a decrease from the previous number of 1,447.000 Barrel th for Aug 2018. United States Crude Oil: Exports: Other data is updated monthly, averaging 0.000 Barrel th from Apr 1998 (Median) to Sep 2018, with 187 observations. The data reached an all-time high of 3,860.000 Barrel th in Mar 2016 and a record low of 0.000 Barrel th in Jun 2018. United States Crude Oil: Exports: Other data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB034: Petroleum Exports by Destination: Crude Oil.

This dataset contains Weekly US Ending Stocks excluding SPR of Crude Oil from 2015-2021. Data from US Energy information administration.

United States Crude Oil Supply: Annual: Imports data was reported at 7,969.000 1000 Barrel/Day in 2017. This records an increase from the previous number of 7,850.000 1000 Barrel/Day for 2016. United States Crude Oil Supply: Annual: Imports data is updated yearly, averaging 1,211.500 1000 Barrel/Day from Dec 1910 (Median) to 2017, with 104 observations. The data reached an all-time high of 10,126.000 1000 Barrel/Day in 2005 and a record low of 2.000 1000 Barrel/Day in 1910. United States Crude Oil Supply: Annual: Imports data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB017: Petroleum Overview: by Product.

The current price of US crude oil as of September 2021 is around $70-$75 per barrel. Learn about the factors that determine crude oil prices, including supply and demand dynamics, OPEC's influence, the impact of the COVID-19 pandemic, geopolitical events, and economic conditions. Understand why monitoring market trends and staying informed about global events are crucial for those involved in the oil industry and investors alike.

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.