Crude Oil fell to 67.52 USD/Bbl on July 18, 2025, down 0.02% from the previous day. Over the past month, Crude Oil's price has fallen 8.55%, and is down 14.13% compared to the same time last year, 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.

Brent fell to 69.42 USD/Bbl on July 18, 2025, down 0.15% from the previous day. Over the past month, Brent's price has fallen 9.49%, and is down 15.99% compared to the same time last year, 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.

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

Correlation defined as linear relationship between two variables. Correlation coefficient (r) is used to measure correlation between two variables and its range varies between -1 to +1. There are two types of correlation namely positive and negative. r=+1 represents perfect positive correlation whereas r=-1 represents perfect negative correlation. Positive correlation tells both indicators are moving in same direction for e.g. If prices of crude oil and Natural gas are positively correlated and there is an increase in price of crude oil then price of Natural gas will also increase. On the other hand negative correlation between the same indicators, if there is increase in price of one will decrease the price of others.

Crude Oil Price: Indonesia data was reported at 61.320 USD/Barrel in Jul 2019. This records an increase from the previous number of 60.990 USD/Barrel for Jun 2019. Crude Oil Price: Indonesia data is updated monthly, averaging 42.500 USD/Barrel from Dec 1991 (Median) to Jul 2019, with 332 observations. The data reached an all-time high of 134.960 USD/Barrel in Jul 2008 and a record low of 9.990 USD/Barrel in Dec 1998. Crude Oil Price: Indonesia data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.PC001: Retail Price: By Major Commodities.

Despite their widespread use as predictors of the spot price of oil, oil futures prices tend to be less accurate in the mean-squared prediction error sense than no-change forecasts. This result is driven by the variability of the futures price about the spot price, as captured by the oil futures spread. This variability can be explained by the marginal convenience yield of oil inventories. Using a two-country, multi-period general equilibrium model of the spot and futures markets for crude oil we show that increased uncertainty about future oil supply shortfalls under plausible assumptions causes the spread to decline. Increased uncertainty also causes precautionary demand for oil to increase, resulting in an immediate increase in the real spot price. Thus the negative of the oil futures spread may be viewed as an indicator of fluctuations in the price of crude oil driven by precautionary demand. An empirical analysis of this indicator provides evidence of how shifts in the uncertainty about future oil supply shortfalls affect the real spot price of crude oil.

Heating Oil rose to 2.50 USD/Gal on July 18, 2025, up 1.33% from the previous day. Over the past month, Heating Oil's price has fallen 3.77%, but it is still 3.25% 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 July of 2025.

On July 14, 2025, the Brent crude oil price stood at 69.18 U.S. dollars per barrel, compared to 66.98 U.S. dollars for WTI oil and 72 U.S. dollars for the OPEC basket. Brent and WTI prices fell slightly that week, while OPEC prices rose.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 (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.

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]

Sri Lanka Petroleum Price: Average: Crude Oil: USD data was reported at 57.790 USD/Barrel in 2017. This records an increase from the previous number of 46.300 USD/Barrel for 2016. Sri Lanka Petroleum Price: Average: Crude Oil: USD data is updated yearly, averaging 37.480 USD/Barrel from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 114.000 USD/Barrel in 2012 and a record low of 13.470 USD/Barrel in 1998. Sri Lanka Petroleum Price: Average: Crude Oil: USD data remains active status in CEIC and is reported by Central Bank of Sri Lanka. The data is categorized under Global Database’s Sri Lanka – Table LK.P008: Petroleum Price.

Indonesia Crude Oil Price: Anoa data was reported at 64.820 USD/Barrel in Jul 2019. This records an increase from the previous number of 64.770 USD/Barrel for Jun 2019. Indonesia Crude Oil Price: Anoa data is updated monthly, averaging 74.410 USD/Barrel from Jan 2006 (Median) to Jul 2019, with 163 observations. The data reached an all-time high of 140.070 USD/Barrel in Jul 2008 and a record low of 29.570 USD/Barrel in Jan 2016. Indonesia Crude Oil Price: Anoa data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.RBH003: Crude Oil Price.

Indonesia Crude Oil Price: Duri data was reported at 60.950 USD/Barrel in Jul 2019. This records an increase from the previous number of 60.850 USD/Barrel for Jun 2019. Indonesia Crude Oil Price: Duri data is updated monthly, averaging 66.650 USD/Barrel from Jan 2006 (Median) to Jul 2019, with 163 observations. The data reached an all-time high of 125.920 USD/Barrel in Mar 2012 and a record low of 24.870 USD/Barrel in Jan 2016. Indonesia Crude Oil Price: Duri data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.RBH003: Crude Oil Price.

As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Even though the effect of oil price shocks on macroeconomics has been extensively investigated, the literature on how efficiency in household energy use affect crude oil price volatility is yet explored. This study unveils whether household energy efficiency lower crude oil price volatility asymmetrically in the United States using the historical and forecast dataset that spans from 1970:Q1-2040:Q1. Applying the multivariate case of Quantile-on-Quantile Regression, the empirical results show that household energy efficiency dampens crude oil price volatility with a stronger connection in quantiles before the median quantiles of crude oil price volatility. However, the effect of household energy efficiency decreases with an increase across quantiles of the crude oil price volatility. The results further show that energy-related CO2 emissions and retail electricity price intensify crude oil price volatility with varying effects across quantiles. These findings are similar to the sensitivity analysis and robustness checks. Overall, the policy implication of our findings is that government and policymakers need to demonstrate unequivocal commitments to improving not only energy-efficient practices at household level but also to mitigate energy-related environmental disasters.

The average price of Indian basket crude oil was estimated to reach ***** U.S. dollars per barrel in the financial year 2024. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly decreased from the previous year’s average of ***** U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost *** U.S. dollars per barrel. Recent trends in the Indian oil industry The last several years have seen a slight but steady increase in Indian crude oil refinery capacity. However, the annual domestic crude oil production volume has consistently decreased. Not surprisingly, the volume of crude oil imports had recently been on the rise for several years. The future of the Indian energy sector As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-06-16 about crude, oil, Europe, commodities, and price.

API Crude Oil Stock Change in the United States increased to 19.10 BBL/1Million in July 11 from 7.10 BBL/1Million in the previous week. This dataset provides - United States API Crude Oil Stock Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Sri Lanka Petroleum Price: Average: Crude Oil data was reported at 8,817.000 LKR/Barrel in 2017. This records an increase from the previous number of 6,757.000 LKR/Barrel for 2016. Sri Lanka Petroleum Price: Average: Crude Oil data is updated yearly, averaging 3,803.000 LKR/Barrel from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 14,416.000 LKR/Barrel in 2012 and a record low of 803.000 LKR/Barrel in 1992. Sri Lanka Petroleum Price: Average: Crude Oil data remains active status in CEIC and is reported by Central Bank of Sri Lanka. The data is categorized under Global Database’s Sri Lanka – Table LK.P008: Petroleum Price.

Get the latest insights on price movement and trend analysis of Crude Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Crude Oil Production in Iraq increased to 3627 BBL/D/1K in June from 3605 BBL/D/1K in May of 2025. This dataset provides the latest reported value for - Iraq Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.