WTI Crude Oil Price (USD/bbl)
Live data from public APIs. Figures may differ slightly from your broker's screen.
Live spot price
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USD per barrel
24h Range
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Sentiment
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Headlines (third parties)
WTI Oil — Historical Return Explorer
Select a buy month and hold period to see approximate historical returns. Educational only — past performance does not predict future results.
Average monthly return of WTI oil across historical data (2010–2024). Green = typically positive month. Red = typically negative.
Averages based on approximate historical spot data 2010–2024. Educational only.
Supply & Demand Explained
The fundamental forces that drive WTI crude oil prices
Supply Factors
OPEC+ Production Decisions
The OPEC+ alliance controls ~40% of global supply. Their quota decisions are the single biggest lever on oil prices. Cuts tighten supply; increases loosen it.
US Shale Production
The US is the world's largest oil producer (~13 million bbl/day). The Permian Basin drives growth. US output responds quickly to price changes via rig counts.
Geopolitical Disruptions
Conflicts in major producing regions (Middle East, Russia) can remove supply from markets rapidly, causing sharp price spikes.
Strategic Petroleum Reserves
Governments release reserves to cool prices during supply shocks. The US SPR holds ~350 million barrels and has been used multiple times since 2021.
Demand Factors
Global Economic Growth
Oil demand tracks GDP. Strong growth in China, India and emerging markets drives higher consumption. Recessions reduce demand sharply.
Transportation & Aviation
Road transport and aviation account for ~55% of oil demand. Post-pandemic travel recovery was a major demand driver in 2021–2023.
Energy Transition
Electric vehicle adoption and renewable energy growth are expected to reduce oil demand over the long term, though the pace of transition is debated.
Seasonal Patterns
Demand peaks in summer (driving season) and winter (heating oil). Refineries also undergo seasonal maintenance, affecting supply of refined products.
Global Oil Production & Key Players
Top oil producing countries and their approximate daily output
Educational use only. Figures are approximate. Verify against EIA, IEA, or OPEC primary sources before relying on them for any decision.