“`html
Crude oil prices rose to a one-week high on January 1, 2026, with January WTI crude up 1.16% to $59.13 per barrel, while January RBOB gasoline increased by 2.16% to $1.865 per gallon. Reduced Russian crude exports, driven by recent attacks on a Black Sea oil terminal, have made significant impacts on market prices.
Vortexa reported that Russian oil product shipments fell to 1.7 million barrels per day (bpd) in the first half of November, the lowest in over three years. Additionally, OPEC+ announced plans to pause production increases in Q1 2026, despite raising output by 137,000 bpd in December 2025. U.S. crude oil inventories as of November 21 were 3.8% below the seasonal five-year average, while U.S. oil rigs fell to a four-year low of 407, down 12 from the previous week.
“`
