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.

Crude Oil rose to 65.49 USD/Bbl on July 23, 2025, up 0.27% from the previous day. Over the past month, Crude Oil's price has risen 1.73%, but it is still 15.60% 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.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

Brent rose to 68.87 USD/Bbl on July 23, 2025, up 0.41% from the previous day. Over the past month, Brent's price has risen 2.57%, but it is still 15.72% 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 July of 2025.

DoF Forecast: Brent Crude Oil Price data was reported at 68.300 USD/Barrel in 2023. This stayed constant from the previous number of 68.300 USD/Barrel for 2022. DoF Forecast: Brent Crude Oil Price data is updated yearly, averaging 72.400 USD/Barrel from Dec 2010 (Median) to 2023, with 14 observations. The data reached an all-time high of 111.900 USD/Barrel in 2012 and a record low of 44.000 USD/Barrel in 2016. DoF Forecast: Brent Crude Oil Price data remains active status in CEIC and is reported by Department of Finance. The data is categorized under Global Database’s Ireland – Table IE.P005: Brent Crude Oil Price: Forecast.

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.

This dataset contains Oil price short term forecast, including STEO and historical from 2016-2022. Data from U.S. Energy Information Administration. Follow datasource.kapsarc.org for timely data to advance energy economics research.

The global engine oil market size is expected to cross USD 105 billion by 2027 from USD 77.5 billion value in 2021, growing at a CAGR of 5.26%. The automotive engine oil market is projected to grow at a CAGR of more than 5% from 2022 to 2027.

The global Group II & III base oil market is estimated to reach USD 29.8 Billion by 2027 from USD 20.2 billion in 2021, growing at a CAGR of 6.70%. A comprehensive study of market size, share, trends, and growth analysis is included in the report

The global mineral oil market is expected to grow at a CAGR of over 4% from 2022 to 2027, expected to reach $4 billion by 2027. The Mineral oil market is driven by the pharmaceutical and personal care sector, contributing 40.50% and 35.91%.

The global base oil market is projected to grow over 5% during the forecast period and cross USD 40.76 billion by 2027 from USD 30.21 billion by 2021.

Brent Crude Oil Price: EA: Forward: 1 Month data was reported at 72.079 EUR/Barrel in Mar 2025. This records an increase from the previous number of 69.734 EUR/Barrel for Dec 2024. Brent Crude Oil Price: EA: Forward: 1 Month data is updated quarterly, averaging 34.532 EUR/Barrel from Sep 1985 (Median) to Mar 2025, with 159 observations. The data reached an all-time high of 103.376 EUR/Barrel in Jun 2022 and a record low of 9.999 EUR/Barrel in Dec 1998. Brent Crude Oil Price: EA: Forward: 1 Month data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.P005: European Central Bank: Crude Oil Price. [COVID-19-IMPACT]

Forecast: Coconut Oil Market Size Volume in the UK 2022 - 2026 Discover more data with ReportLinker!

Cooking Oil Market size was valued at USD 172.50 billion in 2021 and is predicted to reach USD 263.05 billion by 2030.

Heating oil price in the United States has peaked in winter 2022/23 at 4.31 U.S. dollars per gallon and has decreased ever since. Heating oil is a liquid petroleum product that is, among other things, used in residential buildings as a fuel oil in furnaces or boilers. Chemically, most heating oils are similar to motor diesel fuels and are often sold interchangeably. Forecast heating price in the U.S. The average price of heating oil in the United States in the winter of 2024/25 is expected to reach 3.44 U.S. dollars per gallon. Energy prices are projected to see a decrease this winter, because of increased production of heating fuels. The number of heating degree days, which are the days in which the average temperature is below 18 degrees Celsius (65 degrees Fahrenheit), also helps quantify the energy demand required to heat a building. What determines heating oil price? Generally, heating oil prices are collected during the heating season between October and March. In the U.S., the greatest determining factor for heating oil prices is the WTI crude oil price. Consumers can lower heating oil bills by considering when they purchase, reducing consumption, and through government assistance programs.

The global Crude Oil Flow Improver market was valued at USD 1.82 billion in 2022 and is projected to reach USD 2.77 billion by 2030, registering a CAGR of 5.4% for the forecast period 2023-2030. Market Dynamics of the Crude Oil Flow Improver Market Driving Factor:

Rising demand for crude oil:

Increasing demand for crude oil in petroleum products is helping to expand the Crude Oil Flow Improver market. The demand for crude oil in petroleum products is increasing due to its uses as a fuel in many equipment-like vehicles, heaters, generators, and others. For instance, In India, 249,621.61 TMT of crude oil was processed for petroleum products in 2022. Additionally, it has high demand in the chemical industry as a raw material for manufacturing several chemicals like plastics, polyurethane, and solvents. However, the use of crude oil flow improver in export and import operations helps ensure the efficient and reliable flow of crude oil throughout the transportation, and storage and supports overall logistics of crude oil export and import. Hence, as crude oil demand increases, the market for crude oil improvers will also rise.

Restraining Factor:

Stringent regulation along with fluctuating crude oil prices:

Stringent regulations regarding manufacturing, sales, import, and export of crude oil are expected to hamper the growth of the crude oil flow improver market. For instance, the International Maritime Organization (IMO) set strict standards to prevent oil pollution for crude oil transportation. This regulation includes requirements for double-hulled tankers, oil spill response plans, and limitations on oil discharge. Moreover, fluctuating prices of crude oil due to global supply & demand, government policies, currency exchange rates, geopolitical guidelines, and others are expected to hinder the growth of the crude oil flow improver market. For instance, As per the Ministry of Energy, Saudi Arabia, the largest exporter country of crude oil, will implement an additional voluntary cut in its production of crude oil from 2023-2024, which will affect the prices of crude oil.

Impact of the COVID-19 Pandemic on the Crude Oil Flow Improver Market: The outbreak of Covid-19 has witnessed a significant impact on the Crude Oil Flow Improver market growth. Due to the lockdown and supply chain disruption, the import and export of raw materials were paused or lowered. Transportation restrictions declined the demand for crude oil. As a COFI was demanded by crude oil and the specialty chemical industry, the lowered demand for crude oil negatively impacted the crude oil flow improver market. Also due to the lockdown, many industries closed, and many oil and gas projects were delayed due to economic uncertainty, hampered the crude oil flow improver market. Post-covid, the supply chain runs smoothly as the guidelines were released and the lockdown opened. Export and import of crude oil resumed so the rising global crude oil industry led to the expansion of the COFI market. What is crude oil?

Crude Oil Flow Improver is a chemical additive that is mostly used in the oil and gas industry to enhance the flow capacity of crude oil. Crude oil has a high viscosity and impurities in its natural state that hamper the flow of oil. For that, the COFI is used to enhance the flow of crude oil. Moreover, Crude Oil Flow Improver is also known as a drag-reducing agent (DRA) as it reduces friction and improves the flow efficiency of crude oil in pipelines. Crude oil flow improver is used as a catalyst to decrease viscosity, lower the pour point, and lower the drag coefficient of crude oil.

The global crude palm oil market reached $73.5B in 2024, increasing by 5.4% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2024: its value increased at an average annual rate of +3.4% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -8.2% against 2022 indices.

The re-refined base oil market is expected to grow at a CAGR of over 6% from 2023 to 2028 and is expected to cross $5 billion by 2027 from $3 billion in 2022.

Palm Oil fell to 4,252 MYR/T on July 23, 2025, down 0.26% from the previous day. Over the past month, Palm Oil's price has risen 6.67%, and is up 8.30% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on July of 2025.

The U.S. re-refined base oil market is growing at a CAGR of over 6%, projected to cross USD 2 billion by 2027.