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Oil & Gas, Explained

Live data from US government sources, explained by Basin Ventures.

What oil and gas are worth, how much America produces, and how a well actually works. Plain English, real numbers, and the source for every one of them.

Data as of the week ending October 9, 2026. Source: U.S. Energy Information Administration.
Oil price (WTI)
$96.88
per barrel, weekly average spot price
Week ending Oct 9, 2026

Adjusted for inflation, oil has averaged about $76 a barrel since 1986 in today's money.

Natural gas (Henry Hub)
$3.10
per million Btu, weekly average spot price
Week ending Oct 9, 2026

The US benchmark price for natural gas, set at a pipeline hub in Louisiana.

US crude oil output
13.68M
barrels a day
Week ending Oct 9, 2026

The weekly record is 13.98 million barrels a day, in the week ending October 2, 2026.

US natural gas output
113.7
billion cubic feet a day (dry gas)
Jul 2026

July 2026, the latest month published. Monthly figures arrive about two months later.

The guide

Start with any chapter

Chapter 1

What oil and gas are worth

Today's prices against 40 years of history, adjusted for inflation.

Read chapter 1 →
Chapter 2

America's output

How much oil and gas the US produces, the record, and the trend.

Read chapter 2 →
Chapter 3

How a well works

From permit to production: drilling, completion, decline, and what a non-operated working interest is.

Read chapter 3 →
Reference

Glossary

Every term used in this guide, explained in a sentence.

Open the glossary →
Reference

Sources and methods

Every data series we use, where it comes from, and how we adjust it.

See sources and methods →
Why we built this

Free, reliable data most people never see

The US government publishes some of the best energy data in the world, and it is free. Most people never see it, and those who do often get it secondhand, without the context that makes it useful.

We work with this data every day. So we put the numbers that matter in one place, explain what each one means, and show exactly where it comes from and how we calculate it. When a figure is an estimate or gets revised, we say so.

faq

Questions about the data

Where does this data come from?

Every number here comes from a US government source. Prices, production, storage and demand come from the U.S. Energy Information Administration (EIA). The Consumer Price Index we use to adjust for inflation comes from the Federal Reserve Bank of St. Louis (FRED). All of it is free and public. We collect it, check it and explain it, and the Sources and methods page lists every series we use.

How often is it updated?

Weekly. The EIA publishes most of these figures each week for the week before, and we refresh the page after each release. Monthly figures, such as natural gas production, arrive about two months after the month they describe. Every number on the page shows the date it covers.

What does "in today's dollars" mean?

A dollar bought more in 1990 than it does now, so an old price and a new one are not directly comparable. We convert past prices into today's money using the Consumer Price Index. That way a price from any year can be compared fairly with this week's.

Is this investment advice?

No. This guide explains the oil and gas market using public data. It is not a recommendation to buy or sell anything, and nothing here predicts prices or the results of any investment.

Why does Basin Ventures publish this?

Most people don't know how much reliable energy data the US government makes public, or how to read it. We work with this data every day, so we put it in one place and explain it plainly.

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