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3 days ago · Detailed analysis of crude oil price movements and crude oil news which looks at geopolitics and technical advancements affecting the oil sector. | Page 1

The current price of West Texas Intermediate (WTI) crude oil today is $56.02 per barrel. Live charts, historical data, futures contracts, and breaking news on WTI prices can be found below.

2 days ago · Venezuela may be forced to start shutting in oil production as it runs out of storage space amid the U.S. tanker blockade, Bloomberg has reported, citing unnamed sources.

Mar 26, 2025 · Oil prices reached a three-week high due to decreased U.S. inventories and concerns about tighter supply resulting from sanctions against Iran and Venezuela.

Jul 14, 2025 · Global oil consumption reached an all-time high in 2024, driven primarily by non-OECD countries, with the U.S. remaining the largest consumer.

3 days ago · Oil prices climbed after President Trump announced a blockade of sanctioned Venezuelan oil tankers, though weak global fundamentals capped the market’s upside.

Jun 22, 2025 · Oil production growth is slowing due to natural depletion and rising costs, especially in the Permian Basin, but new federal estimates could offset geological limits.

Dec 11, 2025 · Venezuela’s oil production has collapsed under years of mismanagement and U.S. sanctions, leaving the country reliant on shadow fleets and limited foreign partners.