Stocks of crude oil in the United States increased by 2.77million barrels in the week ending November 21 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.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.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 global 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 (where a contract is agreed upon while 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.

Crude Oil Imports in the United States increased to 1046 Thousand Barrels in November 21 from -614 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 US crude oil price chart live is a valuable tool for monitoring the real-time price of crude oil in the United States. It provides market participants with crucial information to assess market conditions, make trading decisions, and understand the broader economic implications of oil price fluctuations.

The US Crude Oil Futures Chart is a graphical representation of the historical price movements and trends of crude oil futures contracts traded on the futures exchange in the United States. It provides valuable insights into market behavior, helps traders formulate strategies, and aids in understanding the broader dynamics of the oil market.

Crude Oil Rigs in the United States decreased to 407 in November 28 from 419 in the previous week. This dataset provides - United States Crude Oil Rigs- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States imported 2.37 billion barrels of crude oil from other countries. It was the first time since 2017 that figures had increased. The peak was recorded in 2005, at nearly 3.7 billion barrels.

United States - Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma was 63.96000 $ per Barrel in September 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 November of 2025.

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

Repealing the U.S. ban on crude oil exports led to increased trade and efficiency in the oil market.

The annual price of West Texas Intermediate (WTI) crude oil is expected to reach an average of 63.58 U.S. dollars per barrel in 2025, according to an August 2025 forecast. This would be a decrease of roughly 13 U.S. dollar compared to the previous year. In the first eight months of 2025, weekly crude oil prices largely stayed below 70 U.S. dollars per barrel amid trade tariffs and an 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.

Canada is the main source country for petroleum imported into the United States. In 2024, the United States imported around 4.7 million barrels of petroleum per day from its northern neighbor. Oil trading with Canada increased more quickly in the 2010s when strides made in unconventional oil extraction allowed for the large-scale mining of oil sands. By comparison, petroleum trading with Venezuela notably declined since the year 2000. In fact, the U.S. did not purchase any crude oil or oil products from Venezuela between 2020 and 2022. However, in 2024 Venezuelan petroleum imports reached some 232 thousand barrels per day. Crude oil reserves As of 2023, global crude oil reserves were estimated to be around 1.6 trillion barrels. This is the amount of oil that can be extracted in the future under current economic and operating conditions. Most of the proved oil reserves in the world are found in the Middle East, although the share of proved reserves in Central and South America has increased the most since the 1990s. Uses of petroleum Petroleum is a versatile raw material that can be refined into transportation fuels or used as a feedstock within the petrochemical industry. Gasoline is the most commonly produced petroleum product. U.S. refinery production of conventional motor gasoline reached 1.4 million barrels per day in 2021. Most refineries in the U.S. are located on the Gulf Coast close to productive oil basins such as the Permian and ports for shipping.

View weekly updates and historical trends for NYMEX WTI Crude Oil Calendar Swap Futures Swap Dealers Short Positions. Source: US Commodity Futures Trading…

The U.S. has consistently been the largest oil market in the world for over a century, and the vast majority of oil produced has been for its domestic market. However, the domestic supply has rarely been able to meet domestic demand, and foreign oil prices are often lower (even after taxes and shipping), therefore large quantities of oil have had to be imported from overseas. Apart from the period surrounding the World Wars and Great Depression, the U.S., has been a net importer of oil for over a century, even prohibiting the majority of its crude oil from being exported between 1975 and 2015. However, thanks to the discovery of new oil reserves, new technologies, and developments in the unconventional oil industry (such as fracking, horizontal drilling, or shale refinement), the U.S. may be on course to become a net exporter of oil in the 2020s, the decade after it lifted its export ban.

Snapshot img

The crude oil market has the potential to grow by 4781.60 million barrels during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 2.73%.

This crude oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by production area (onshore and offshore) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including BP Plc, Chevron Corp., and ConocoPhillips Co., among others.

What will the Crude Oil Market Size be in 2021?

Browse TOC and LoE with selected illustrations and example pages of Crude Oil Market

Get Your FREE Sample Now!

Crude Oil Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing upstream investment is notably driving the crude oil market growth, although factors such as fluctuations in global crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the crude oil industry get your FREE report sample now.

      The rising energy demand across the world has prompted governments to explore untapped oil and gas resources in the upstream sector, using advanced technologies.
      The production of oil and natural gas is declining from many conventional oilfields. To overcome this issue, oil and gas operators are increasing investments in mature oil and gas fields.
      The adoption of unconventional exploration and production technologies in large shale deposits has widened opportunities for upstream oil and gas companies.
      The growing investments in the upstream oil and gas sector will significantly influence crude oil market growth over the forecast period.




      Technological development in the hydraulic fracturing process is aiding in the exploration and production of oil and gas from shale plays.
      The advances in the drilling technology and proppant placement in downhole wells increased hydrocarbon recovery from unconventional wells.
      Technological advances such as integration of the internet of things (IoT) for data acquisition, as well as the use of data analytics and machine learning, supports the efficiency of tools that is one of the key crude oil market trends.
      Real-time pressure data is crucial in crude oil production as it eliminates the over-fracturing issue.
      Automation of hydraulic fracturing optimizes the hydraulic fracturing method using algorithmic controls and supports enhanced well performance.

This crude oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Crude Oil Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
Petroleo Brasileiro SA
Qatar Petroleum
Rosneft Oil Co.
Royal Dutch Shell Plc
Saudi Arabian Oil Co.

The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the crude oil market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Crude Oil Market?

For more insights on the market share of various regions Request for a FREE sample now!

44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for crude oil in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Production Area Segments in the Crude Oil Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and production operations

Quantification and analysis of global oil trade networks reveals deep insights into a nation's development and influence at a global scale. Further

USO is an exchange-traded fund (ETF) that tracks the performance of WTI crude oil futures, allowing individuals to speculate on the direction of oil prices. Investors should carefully consider their investment objectives and be aware of the fund's short-term trading focus.

The US crude oil spot market refers to the buying and selling of crude oil for immediate delivery in the United States. It involves the physical trading of crude oil in real-time, as opposed to futures contracts which involve the trading of oil for future delivery dates. The spot market is an important aspect of the global oil market and plays a crucial role in determining oil prices.

Oil Exports in the United States increased to 7626 USD Million in July from 7614 USD Million in June of 2025. This dataset provides - United States Crude Oil Exports- actual values, historical data, forecast, chart, statistics, economic calendar and news.