The real-time price of Brent crude oil is at $76.30 per barrel, and the price of WTI crude oil is at $73.31 per barrel ... Extraction costs are typically higher for new resources, meaning these oils ...

This included urging OPEC and Saudi Arabia to lower barrel costs. Crude inventories in the U.S. also dropped to the lowest since March 2022, as reported by the Energy Information Administration.