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Posted August 2, 2021 Today in Energy

OPEC+ agrees to crude oil production increases, but Brent crude oil prices remain high ›

On July 18, OPEC+, which includes most members of OPEC and several non-OPEC members (including Russia), agreed to increase monthly crude oil production starting in August 2021. On July 19, after the new OPEC+ agreement was made public, the price of Brent crude oil fell 7% from the previous day to $69 per barrel (b). Since then, the price of Brent crude oil has been rising, reaching $76/b on July 30. More

daily Brent crude oil price

Source: Graph by the U.S. Energy Information Administration, based on data from Bloomberg

Data Highlights

WTI crude oil futures price

7/30/2021: $73.95/barrel

up$1.88 from week earlier
up$34.03 from year earlier

Natural gas futures price

7/30/2021: $3.914/MMBtu

down$0.146 from week earlier
up$2.085 from year earlier

Weekly coal production

7/24/2021: 11.647 million tons

down0.571 million tons from week earlier
up1.471 million tons from year earlier

Natural gas inventories

7/23/2021: 2,714 Bcf

up36 Bcf from week earlier
down523 Bcf from year earlier

Crude oil inventories

7/23/2021: 435.6 million barrels

down4.1 million barrels from week earlier
down90.4 million barrels from year earlier