The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. 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.

Heating Oil rose to 2.35 USD/Gal on December 2, 2025, up 0.21% from the previous day. Over the past month, Heating Oil's price has fallen 2.25%, but it is still 6.31% higher 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 December of 2025.

Oil prices rose as Trump confirmed support for Fed Chair and US imposed sanctions on Iran, with a significant drop in US crude inventories boosting market sentiment.

Gasoline fell to 1.86 USD/Gal on December 2, 2025, down 0.53% from the previous day. Over the past month, Gasoline's price has fallen 2.79%, and is down 4.95% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on December of 2025.

The global fuel energy price index stood at 157.89 index points in September 2025, up from 100 in the base year 2016. Figures decreased that month due to a fall in natural gas prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Tariffs bring economic uncertainty With the global economy having adjusted to the effects of the Russia-Ukraine war, new uncertainty has emerged due to tariffs imposed by the Trump administration. If these tariffs are fully implemented, global trade could be significantly disrupted, mainly the bilateral trade between the world’s two largest economies. In 2025, import tariffs between China and the United States exceeded 130 percent on both sides, while their tariffs on imports from the rest of the world were around 10 percent. U.S. tariffs on Chinese imported goods reached a high of 134.7 percent in April of that year, while China imposed a 147.6 percent tariff on U.S. goods. Early estimates indicate that the impact of Trump’s proposed tariffs on the U.S. economy could amount to 0.4 percent of GDP, mainly driven by the reduced trade with Mexico, Canada and China.

The average price for regular gasoline in the United States stood at **** U.S. dollars per gallon on October 27, 2025. This compared to a diesel price of **** U.S. dollars per gallon. Prices for gasoline and diesel remained stable that week. Real price surge of 2022 and 2023 still below 2011 to 2014 prices When looking at the real price of gasoline over time, U.S. drivers had to pay notably more in the years between 2011 and 2014. The surge in prices noted throughout 2022 and partly for 2023, which followed supply constraints, was still lower in terms of real U.S. dollars. U.S. on the lower-end spectrum of worldwide motor fuel prices The U.S. has some of the lowest conventional motor fuel prices in the world. Although fuel prices are usually higher in high-income countries, the U.S. profits from its position as the world’s largest crude oil producer and can keep retail prices for oil products comparatively low. For example, among high-income countries, prices for automotive premium gasoline (RON 95) were only lower in Russia and Saudi Arabia - countries where crude oil and oil product exports are in part restricted by sanctions, thus keeping domestic supply high.

Soybeans rose to 1,130.79 USd/Bu on December 2, 2025, up 0.25% from the previous day. Over the past month, Soybeans's price has risen 0.99%, and is up 14.02% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Soybeans - values, historical data, forecasts and news - updated on December of 2025.

Lubricant oil manufacturers have faced significant volatility in recent years because of fluctuating crude oil prices and shifting economic conditions. During the pandemic, demand for lubricant oil plummeted as industrial activity and automobile usage dropped, causing revenue to plunge. As the economy reopened and oil prices surged, revenue rebounded sharply in 2021 and 2022. However, recessionary fears resulting from the Federal Reserve’s interest rate hikes, along with a drop in oil prices post-pandemic, pressured revenue again in 2023 and kept it flat in 2024. Tariffs and new economic uncertainties have reignited concerns about future demand, with forecasts indicating a potential revenue decline in 2025. The industry has also consolidated as larger companies with broader resources weathered volatility better than smaller firms. Specialization in niche and high-performance products, such as synthetic and recycled oils, has driven customer loyalty and helped sustain providers’ revenue and also boosted consolidation. The rise of electric vehicles (EVs) poses a long-term threat, though their impact is currently softened by the ongoing demand for traditional vehicles. Overall, revenue for lubricant oil manufacturers has expanded at a CAGR of 4.1% over the past five years, reaching $25.7 billion in 2025, including a 1.1% drop in revenue in that year. Lubricant oil manufacturers face several challenges and opportunities moving forward. Tariffs imposed by the Trump administration are expected to strengthen consumer prices and production costs, squeezing household spending and risking a mild economic downturn. Despite these headwinds, signs point toward recovery through higher productivity and increasing vehicle registrations, which will drive demand for lubricant oils. Regardless, falling oil prices may limit potential revenue gains. The growing emphasis on sustainability, with consumers favoring recycled and synthetic oils, offers new revenue streams. Larger companies may initially dominate this market due to economies of scale, although smaller firms could compete by investing in sustainable products. Increased automation and technological advancements are likely to cut costs and improve efficiency, slightly reducing wage expenses while supporting long-term profit growth. Overall, revenue for lubricant oil producers is forecast to creep upward at a CAGR of 1.4% over the next five years, reaching $27.5 billion in 2030.

Major global events, like the pandemic and the Ukraine war, have greatly impacted machinery manufacturers by creating significant volatility in commodity prices. Major production and travel slowdowns harmed demand for oil and gas, resulting in fewer extraction projects and lowering the need for machinery. Still, Russia's invasion of Ukraine led to sanctions placed on Russia by various countries, which led to surging oil and gas prices. This uptick in prices led to strong US oil and gas production growth, boosting machinery sales in 2022 and 2023. Still, supply chain woes led to considerable increases in machinery production costs. Manufacturers passed these higher costs onto customers to retain profit but hindered revenue growth as customers increasingly sought cheaper imports. Overall, revenue has been falling at a CAGR of 3.4% over the past five years to total an estimated $14.0 billion through the end of 2024, including an estimated decrease of 1.8% in 2024. Manufacturers have also endured export declines. The increasing value of the US dollar has disincentivized foreign energy producers from purchasing US-made machinery despite its high quality. Interest rate hikes have also hindered manufacturers' performance. Since oil and gas producers typically purchase machinery on credit, higher interest rates reduce capital expenditures. Interest rate cuts and increases in oil and gas prices will benefit manufacturers in 2024. Falling oil and gas prices will negatively impact machinery manufacturers. These price drops will cause drilling projects to slow down, reducing the need for new machinery and maintenance services. While the dollar's falling value will reduce import penetration, exports will continue to drop alongside oil and gas prices. The Willow Project, one of the largest oil projects in the United States, is likely to boost domestic oil production, driving machinery sales. Domestic manufacturers will continue to focus on high-value-added products, protecting them from substitutes and enabling them to become more profitable. The Trump administration plans to ramp up oil drilling and gas extraction by rolling back previous regulations restricting carbon emissions, thereby creating greater energy independence for the nation and potentially boosting equipment sales. Overall, revenue is forecast to fall at a CAGR of 4.6% to total an estimated $11.0 billion through the end of 2029.

The United States imported an average of 147,000 barrels of petroleum per day from Russia in 2022. The U.S. Congress passed a bill banning imports from oil, gas, coal, and other energy commodities from Russia in April 2022 as a reaction to Russia’s invasion of Ukraine. Other Western countries did the same as an effort to penalize and put economic pressure on Russia. According to a survey from March 2022, 49 percent of U.S. registered voters supported the government's sanctions on Russian oil exports.

Market and price uncertainty

Even though Russia was among the leading countries for petroleum imports into the U.S., market disruptions caused by the imposed sanctions have still severely impacted U.S. average gas prices. In June 2022, gasoline prices reached a new peak of more than five U.S. dollars per gallon. By comparison, diesel prices climbed to around 5.8 U.S. dollars. With the world still grappling with the economic repercussions brought on by the pandemic, the Russia-Ukraine war added another layer of uncertainty over market development. According to a June 2022 outlook, the average global GDP growth forecast change due to the Russia-Ukraine war was a 1.44 percent decrease to the projection made before the war. Only five countries out of the 42 included in the study were forecast to have a positive GDP growth.

Corn rose to 433.53 USd/BU on December 2, 2025, up 0.01% from the previous day. Over the past month, Corn's price has fallen 0.17%, but it is still 2.43% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Corn - values, historical data, forecasts and news - updated on December of 2025.

Oil and gas pipeline construction contractors have seen an overall decline in revenue since 2020, with recent years of growth not having fully made up for the decline in revenue that came in the wake of the COVID-19 pandemic. World oil and gas prices have been extremely volatile during the current period and have limited capital expenditure by upstream and downstream industries. Still, a number of pipeline construction projects have recently broken ground, with many centered on delivering affordable hydrocarbons from tight shale formations to global energy consumers. Industry revenue has declined at a CAGR of 0.6% to $53.6 billion over the past five years despite a 1.4% increase in 2025. The industry has been busy constructing new gathering and transmission lines as well as storage and refining facilities. More infrastructure has been necessary to harness the outburst of energy, which has come online following the widespread adoption of hydraulic fracturing and horizontal drilling since the early 2000s. In fact, as domestic production increased and gas and oil exports from Russia decreased, the US became the global leader in LNG exports in 2023 and has become a net exporter of oil. The second Trump administration has, so far, been a mixed bag for the industry, lifting the Biden administration’s pause on LNG export approvals and generally promoting drilling, but proposing to push down oil prices and generally creating an uncertain business environment. Industry profit has expanded over the past five years as input cost inflation has cooled. Oil and gas pipeline construction companies are caught in a predicament as the United States seeks to improve its position as the world's largest producer of oil and gas while setting itself up for a more sustainable future. Demand for oil and natural gas will be threatened by a global transition to green energy in the coming years, though natural gas is often turned to as a relatively green fuel compared to other power sources like coal. Demand for pipeline construction will likely remain strong for interstate and intrastate pipelines connecting producers to key export terminals in Louisiana and Texas. Industry revenue is expected to grow at a CAGR of 1.7% to $58.3 billion over the five years to 2030 as global demand for energy expands.

The Motor Vehicle Fuel Retailing industry has undergone a seismic shift over recent years, driven by regulatory changes and evolving consumer preferences. Revenue is expected to grow at a compound annual rate of 10.7% over the five years through 2025 to €30.2 billion, including estimated growth of 2.7% in 2025. French fuel retailers have seen hefty rises in revenue, particularly in 2022, when fuel prices skyrocketed following Russia’s invasion of Ukraine. Although prices have trended downwards in the years following due to slowing economic growth and fears of a recession in 2023, they remain volatile and higher than pre-pandemic levels. Supply concerns continue to place upward pressure on prices, stemming from the escalating conflict in the Middle East. After Donald Trump’s victory in the US election in November 2024, tax cuts and a boost to fiscal spending will likely drive oil prices in 2025, forcing retailers to pass on these elevated costs to consumers through higher prices. Retailers are adapting their infrastructure to store biofuels following stringent mandates imposed by the French government calling for minimum percentages of biofuels to be included in petrol and diesel. Motor Vehicle Fuel Retailing revenue is expected to grow at a compound annual rate of 0.9% over the five years through 2030 to €31.6 billion. The shift towards sustainability shows no signs of slowing as France seeks to achieve carbon neutrality by 2050. This encourages a continued rise in electric vehicle production, posing a threat to fuel retailers in the coming years. The move to electric vehicles will be exacerbated by improved production processes by EV manufacturers, leading to lower prices and healthier demand for EVs. However, retailers looking to navigate the evolving landscape will need to invest heavily in improving their biofuel offerings to remain competitive. This will also prompt new entrants as they explore renewable energy opportunities, driving consolidation activity as larger retailers scoop them up in the coming years.