On June 16, 2025, the Brent crude oil price stood at 72.89 U.S. dollars per barrel, compared to 71.77 U.S. dollars for WTI oil and 73.15 U.S. dollars for the OPEC basket. Crude oil prices rose slightly compared to the previous 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 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.

Stocks of crude oil in the United States increased by 7.70million barrels in the week ending July 25 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.

Oil Exports in the United States decreased to 7414 USD Million in May from 8098 USD Million in April of 2025. This dataset provides - United States Crude Oil Exports- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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.

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.

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.

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

The US Crude Live Chart is a powerful tool for monitoring and analyzing US crude oil prices. It provides real-time price data, historical price patterns, and interactive features that enable traders and investors to make informed decisions.

The U.S. Crude Oil Index is a benchmark that tracks the performance of the crude oil market in the United States. It is used as a reference to understand the movement and trends in the oil market, particularly for investors and traders involved in oil-related activities.

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.

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.

Weekly Crude Oil Production in the United States increased to 13314 Thousand Barrels Per Day in July 25 from 13273 Thousand Barrels Per Day in the previous week. This dataset includes a chart with historical data for the United States Weekly Crude Oil Production.

US Crude Oil Market growth is driven by strong demand for energy, particularly in emerging markets, and the continued need for crude oil in transportation and industrial applications.

Global Crude Oil Market is projected to reach USD 929.8 Billion by 2034, with a 2.1% CAGR from 2025 to 2034.

Crude Oil Imports in the United States increased to 1317 Thousand Barrels in July 25 from -740 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.

Explore the surprising increase in U.S. crude oil inventories driven by a significant import surge, affecting gasoline and distillate stocks. Understand the market's response and refinery activity.

Graph and download economic data for CBOE Crude Oil ETF Volatility Index from 2007-05-10 to 2025-07-25 about ETF, VIX, volatility, crude, oil, stock market, and USA.

United States Exports: FAS: sa: IS: Crude Oil data was reported at 4.005 USD bn in May 2018. This records an increase from the previous number of 3.245 USD bn for Apr 2018. United States Exports: FAS: sa: IS: Crude Oil data is updated monthly, averaging 73.000 USD mn from Jan 1994 (Median) to May 2018, with 293 observations. The data reached an all-time high of 4.005 USD bn in May 2018 and a record low of 0.000 USD mn in Sep 1995. United States Exports: FAS: sa: IS: Crude Oil data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.JA005: Trade Statistics: Census Basis: Seasonally Adjusted: Exports by End-Use Commodity.