OPEC and its allies including Russia agreed to cut oil production on April 9th 2020, amid a slump in global demand after the coronavirus pandemic led to lockdowns and business closures and aimed at ending the price war between Riyadh and Moscow. However, the agreement did not include other oil producers such as the US, and Mexico exit talks, threatening the final deal. Negotiations with Mexico will continue on Friday. Crude oil production will be cut by 10 million barrels per day starting on May 1st and until June 30th; by 8 million barrels per day from June to December; and by 6 million barrels per day from January of 2021 through April of 2022. WTI crude ended the session more than 9% lower at $22.76 a barrel, after jumping more than 12% earlier. The Brent crude dropped more than 4% to $31.48 a barrel after hitting $36.4. On the week, US crude prices declined 20% and Brent 8%. US markets for commodities will be closed on the Good Friday.

Historically, Crude oil reached an all time high of 147.27 in July of 2008. Crude oil - data, forecasts, historical chart - was last updated on April of 2020.

Crude oil is expected to trade at 22.05 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 18.97 in 12 months time.

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Crude oil


Crude oil
The West Texas Intermediate (WTI) benchmark for US crude is the world's most actively traded commodity. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly Yearly Date
Crude Oil 23.1900 0.43 1.89% -18.17% -29.96% -63.53% Apr/10
Brent 31.4800 1.36 -4.14% -7.71% -12.04% -55.56% Apr/10
Natural gas 1.7460 0.04 -2.08% 12.14% -14.79% -34.46% Apr/09
Gasoline 0.7521 0.02 -2.79% 4.34% -35.18% -62.97% Apr/09
Heating oil 0.9726 0.04 -3.77% -5.96% -21.75% -52.95% Apr/09
Ethanol 0.9550 0.02 1.81% 6.58% -23.72% -28.57% Apr/10
Naphtha 156.62 3.43 2.24% 18.11% -50.17% -71.78% Apr/08
Propane 0.29 0.01 4.10% 15.45% -8.46% -55.16% Apr/08
Uranium 29.1000 0.40 1.39% 6.79% 19.51% 12.57% Apr/08

Metals Price Day Weekly Monthly Yearly Date
Gold 1,683.82 38.05 2.31% 4.43% 1.90% 30.29% Apr/09
Silver 15.4500 0.40 2.66% 6.52% -8.94% 3.31% Apr/09
Platinum 744.56 15.01 2.06% 2.40% -14.31% -16.11% Apr/09

Agricultural Price Day Weekly Monthly Yearly Date
Soybeans 870.7500 9.50 1.10% 0.75% -0.23% -2.74% Apr/09
Wheat 559.2500 1.75 0.31% 2.43% 8.22% 21.44% Apr/10
Palm Oil 2,382.00 38.00 -1.57% 1.06% -1.04% 16.76% Apr/10
Cheese 1.4540 0.02 -1.62% -5.34% -15.27% -11.45% Apr/09
Milk 13.61 0.17 -1.23% -4.63% -16.66% -14.46% Apr/09
Orange Juice 110.10 5.80 5.56% -5.09% 7.26% 2.75% Apr/09
Wool 1,301.00 0.00 0.00% -3.27% -16.71% -32.80% Apr/09
Rice 14.5150 0.20 1.40% 1.90% 13.00% 41.13% Apr/09
Canola 463.60 1.30 0.28% 0.02% 0.52% 1.62% Apr/09
Tea 2.75 0.07 -2.48% -2.48% 18.53% 8.70% Apr/09
Sugar 10.43 0.06 0.58% 1.36% -17.16% -17.61% Apr/09
Cocoa 2,309.00 70.00 -2.94% 1.05% -15.05% -3.31% Apr/09
Coffee 118.20 1.60 -1.34% -0.96% 3.46% 30.97% Apr/09
Cotton 54.44 0.60 1.11% 8.90% -11.35% -29.28% Apr/09
Lumber 322.10 18.00 5.92% 21.96% -14.97% -5.35% Apr/09
Rubber 141.00 1.00 -0.70% 5.22% -12.42% -23.37% Apr/10
Oat 268.2500 1.50 0.56% 0.19% 3.27% -4.20% Apr/10
Corn 337.5000 0.50 0.15% 0.30% -10.83% -6.25% Apr/10

Livestock Price Day Weekly Monthly Yearly Date
Beef 14.24 0.03 -0.21% 0.85% 2.67% 31.85% Apr/09
Poultry 4.14 0.00 0.00% -7.80% -15.68% -11.16% Apr/09
Feeder Cattle 118.5250 0.05 0.04% 9.04% -4.07% -18.50% Apr/10
Live Cattle 84.5750 0.03 0.03% 5.32% -12.92% -32.88% Apr/10
Lean Hogs 49.1750 0.40 0.82% 1.34% -37.62% -37.93% Apr/10

Industrial Price Day Weekly Monthly Yearly Date
Copper 2.2825 0.00 -0.13% 2.19% -10.54% -20.91% Apr/09
Lithium 45,500.00 0.00 0.00% -1.09% -3.19% -40.13% Apr/10
Bitumen 1,976.00 72.00 -3.52% -5.00% -18.48% -43.48% Apr/10
Steel 3,450.00 10.00 0.29% 4.80% -1.03% -16.00% Apr/10
Coal 60.78 1.62 -2.60% -8.46% -6.42% -30.14% Apr/08
Palladium 2,172.15 7.60 0.35% -0.75% -5.76% 59.07% Apr/10
Cobalt 30,000.00 0.00 0.00% 0.00% -10.45% -13.04% Apr/09
Lead 1,703.00 0.80 -0.05% 0.96% -6.29% -10.77% Apr/09
Aluminum 1,479.50 14.00 0.96% -0.77% -12.82% -20.46% Apr/09
Tin 14,958.00 561.00 3.90% 4.06% -11.36% -27.30% Apr/09
Zinc 1,901.00 22.00 -1.14% 0.72% -3.80% -33.65% Apr/09
Nickel 11,599.50 166.00 1.45% 2.98% -8.19% -10.03% Apr/09
Molybdenum 21.92 3.88 -15.04% -15.04% -15.04% -25.06% Apr/09
Iron Ore 83.50 0.50 0.60% 3.09% -7.73% -12.11% Apr/09
Neodymium 360,000.00 0.00 0.00% -0.69% -5.39% -2.04% Apr/09
Rhodium 7,200.00 700.00 -8.86% -30.77% -47.83% 138.81% Apr/09
Iron Ore 62% fe 82.8700 0.97 1.18% 3.15% -5.90% -11.46% Apr/08
Soda Ash 1,563.33 0.00 0.00% 0.00% -1.26% -19.42% Apr/10
Manganese 39.50 2.00 5.33% 5.33% 27.42% 0.00% Apr/09

Index Price Day Weekly Monthly Yearly Date
Baltic Dry 607.00 11.00 1.85% -2.72% -1.46% -16.62% Apr/08
CRB Index 135.69 1.46 -1.07% 2.39% -15.15% -30.57% Apr/09
LME Index 2,341.40 21.10 0.91% 1.82% -9.61% -21.91% Apr/09
S&P GSCI 1,559.83 24.29 -1.53% 1.06% -16.81% -40.51% Apr/09