WTI crude oil prices averaged USD 60.84 per barrel in October, down 4.9% from September. On 31 October, the commodity traded at USD 61.75 per barrel, down 2.2% from 30 September.
The decline in WTI prices reflected global factors, including OPEC+’s decision to continue raising output despite signs of weakening demand. Regarding U.S.-specific figures, data released over the past month showed that U.S. oil production hit a fresh high of 13.8 million barrels per day in August. Meanwhile, U.S. oil inventories fell by 4.1 million barrels less than the market had expected in the five weeks to 29 October.
This chart displays WTI Crude Oil (US$/bbl) from 2023 to 2025.
WTI Crude Oil (prices in US$/bbl, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WTI Crude Oil | - | - | - | 78.45 | 77.48 | 81.77 | 76.60 | 70.77 | 71.92 | 64.72 | 65.79 | - |