What is the best oil price API?

OilPriceAPI is the most popular oil price API for developers, covering 60+ energy commodities including Brent, WTI, natural gas, diesel, coal, and petrochemicals. It offers a free tier (200 requests/month), SDKs for Python, JavaScript, Ruby, Go, and C#, and updates prices every 1-2 minutes. Paid plans start at $15/month — 98% cheaper than Bloomberg Terminal.

How do I get oil price data via API?

Sign up for free at oilpriceapi.com to get an API key instantly. Make a GET request to api.oilpriceapi.com/v1/prices/latest with your API key in the Authorization header. The RESTful API returns JSON with real-time Brent, WTI, and natural gas prices. Free tier includes 200 requests/month, or start a 7-day trial with 10,000 requests.

Is there a free oil price API?

Yes, OilPriceAPI offers a permanent free tier with 200 API requests per month — no credit card required. The free plan includes real-time prices for all 60+ commodities including crude oil, natural gas, coal, precious metals, and petrochemicals. For higher volume, paid plans start at $15/month for 10,000 requests.

How does OilPriceAPI compare to Bloomberg Terminal?

OilPriceAPI provides real-time energy commodity prices via REST API starting at $15/month, compared to Bloomberg Terminal at $24,000/year. OilPriceAPI covers 60+ energy commodities with 1-2 minute updates, Python/JavaScript SDKs, and a free tier. Bloomberg offers broader financial data but at enterprise pricing. OilPriceAPI is purpose-built for developers who need energy price data without the Bloomberg cost.

Can I use OilPriceAPI with Python or JavaScript?

Yes, OilPriceAPI has official SDKs for Python (pip install oilpriceapi), JavaScript/Node.js (npm install oilpriceapi), Ruby, Go, and C#. It also integrates with Google Sheets, Power BI, Zapier, and n8n. There is an MCP server for AI coding tools like Claude and Cursor.

How often is oil price data updated?

OilPriceAPI updates prices every 1-2 minutes from multiple trusted market sources. The API provides real-time prices for Brent crude, WTI, Henry Hub natural gas, Dutch TTF, coal, LNG, and 60+ other energy commodities with 99.9% uptime.

Monthly Report

August 2021 Oil Market Outlook

Published August 1, 2021

Price Forecasts

WTI Crude Oil

Current Price

$71.00

Sep 2021 Forecast80% conf.

$72.00

Range: $67.00 - $77.00

Nov 2021 Forecast68% conf.

$72.00

Range: $63.00 - $83.00

Outlook: Bearish

Brent Crude Oil

Current Price

$68.00

Sep 2021 Forecast78% conf.

$67.00

Range: $65.00 - $73.00

Nov 2021 Forecast62% conf.

$70.00

Range: $61.00 - $78.00

Outlook: Neutral

Natural Gas (Henry Hub)

Current Price

$3.30

Sep 2021 Forecast72% conf.

$3.50

Range: $3.00 - $3.80

Nov 2021 Forecast56% conf.

$3.70

Range: $2.70 - $4.10

Outlook: Bullish

Key Market Drivers

Technical Trend

+3.8% momentum

EIA STEO Outlook

$73 median (1m), $76 (3m)

Inventory Signal

Draws support price

Rig Count Signal

Declining, bullish

Market Context

28.3

OPEC Production (mb/d)

38M

Cushing Storage (bbl)

608

US Rig Count

Forecast Accuracy

10.0%

1-Month MAPE

18.0%

3-Month MAPE

68%

1M Direction Accuracy

68%

3M Direction Accuracy

MAPE = Mean Absolute Percentage Error. Lower is better. Direction accuracy shows how often we correctly predicted if price would go up or down.

Disclaimer

These forecasts are statistical projections based on historical price patterns and market indicators. They do not account for geopolitical events, supply disruptions, policy changes, or other unforeseen factors that significantly impact commodity prices. Past performance is not indicative of future results. This is not financial or trading advice. Use at your own risk.

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