Knowledge (XXG)

Brent Crude

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416:, and to dwindling storage capacity at the futures contract delivery point at Cushing, Oklahoma. Brent settled for US$ 26.21 at the same time, for a difference of $ 63.84. While the oil demand shock and limited storage capacity affects both WTI and Brent futures contracts, Brent contracts have greater access to storage, and greater buffers to absorb demand shocks than the WTI contracts. Brent futures contracts could theoretically access the storage capacity of all the shore tanks in North West Europe and of available shipping storage, while CME WTI contracts are restricted to storage and pipeline capacity at Cushing only. Brent futures contracts are traded in relation with Dated Brent and other contracts in the Brent Complex, allowing other contracts in the system to absorb demand shocks. Up to April 20, most of the demand shock from the COVID-19 pandemic has been absorbed by Dated Brent contracts and Dated Brent quality differentials, which spared pricing pressure on Brent futures contracts. While Brent is more insulated to 73: 441:. Contracts for one and two months forward were available in 1983, contracts for three months forward were available in 1984, contracts for four months forward were available in 1985, and contracts for at least four months are available for trading today. Sellers of Brent forward contracts initially had to give buyers a notice of at least 15 days of intention to deliver. More recently, the notice period has expanded to 10 days to one month ahead. This shifted the front month of the Brent forward contract. For example, on May 4, the Front Month forward contract (also known as M1) is the July contract, the Second Month (M2) contract is the August contract, and the Third Month (M3) contract is the September contract. 232:. Up to 96 contracts, for 96 consecutive months, in the Brent crude oil futures contract series are available for trading. For example, before the last trading date for May 2020, 96 contracts, from contracts for May 2020, June 2020, July 2020 ... Mar 2028, April 2028, and May 2028 are available for trading. ICE Clear Europe acts as the central counterparty for Brent crude oil and related contracts. Brent contracts are deliverable contracts based on 'Exchange of Futures for Physicals' (EFP) delivery with an option to cash settle against the ICE Brent Index price for the last trading day of the futures contract. 277:
transactions based on Dated Brent, they will still face basis risk between Dated Brent and EFP prices. Hedgers could use a Crude Diff or 'Dated to Front Line' (DFL) contract, which is a spread contract between Dated Brent and Brent 1st Line Future (the front month future), to hedge the basis risk. So a complete hedge would be the relevant Brent futures contract, and a DFL contract when the futures contract becomes the front month future. This is equivalent to a Brent forward contract and a CFD contract in forward contract terms.
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WTI and OPEC Basket; however, since the autumn of 2010 Brent has been priced much higher than WTI, reaching a difference of more than $ 11 a barrel by the end of February 2011 (WTI: US$ 104/bbl, LCO: US$ 116/bbl). In February 2011 the divergence reached $ 16 during a supply glut, record stockpiles, at Cushing, Oklahoma before peaking at above $ 23 in August 2012. It has since (September 2012) decreased significantly to around $ 18 after refinery maintenance settled down and supply issues eased slightly.
201: 404:. Oil production in the interior of North America has exceeded the capacity of pipelines to carry it to markets on the Gulf Coast and east coast of North America; as a result, the oil price on the US and Canadian east coast and parts of the US Gulf Coast since 2011 has been set by the price of Brent Crude, while markets in the interior still follow the WTI price. Much US and Canadian crude oil from the interior is now shipped to the coast by railroad, which is much more expensive than pipeline. 780: 294: 316: 3329: 286: 454:
must find other parties to take the oil, and long chains of speculators formed between producers and refiners for every cargo of oil traded. Integrated oil producers also blurred the lines between commercial and speculative activity, as they could re-direct physical oil cargoes, and choose which forward contracts to deliver and which contracts to pass on to other speculators or producers.
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Front Month Brent forward contracts prices came to be used as reference prices for spot transactions, but became vulnerable to speculative squeezes. The development of a Dated Brent and Forward Month Brent Contracts-for-Difference market increased this vulnerability, and market participants gradually
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Speculators became bilateral intermediaries between producers and refiners, and speculative deals came to dominate the forward market. Since there was no central clearing of those forward contracts, speculators who bought Brent forwards at the time and who do not want to take delivery of physical oil
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Historically, price differences between Brent and other index crudes have been based on physical differences in crude oil specifications and short-term variations in supply and demand. Prior to September 2010, there existed a typical price difference per barrel of between ±3 USD/bbl compared to
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In contrast to open forward contracts, Brent crude oil "dated" contracts – known as dated Brent contracts – specify the delivery date of crude in the current month in the spot market. Spot market transactions are generally not public, so market participants usually analyzed Dated Brent prices using
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Brent crude oil contract-for-difference (CFD) is a weekly spread or swap between the Dated Brent assessed price and the Second Month (or M2) Brent crude oil forward contract. They trade over a five-day work week in volumes of 100 or 100,000 lots and the most recent CFD rolls to the next-week CFD on
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Producers and refiners buy and sell oil on the market for wholesale trade, hedging, and tax purposes. Producers without integrated refinery operations, and vice versa for refiners without oil production, had to sell oil and could hedge oil price risk with forward contracts. Integrated oil producers
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The Brent Complex fosters commercial transactions of Brent crude oil, gathers price data those transactions (in forwards, CFDs, and Dated Brent), establishes reference prices for other global oil trade transactions (in Dated Brent assessed prices, Dated BFOET assessed prices, forward traded prices,
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and eventually calculated as a 30-day price average of spot prices before an oil transaction. Forward market prices tended to be lower than these reference prices a lot of the times, and integrated oil producers could profitably lower their tax obligations by selling oil on the forward market from
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Brent crude oil monthly forward contracts started trading in 1983 as "open" contracts, or contracts that specify delivery month but not the delivery date. From 1983 to 1985, these contracts were for 500,000 barrels of Brent Blend crude, and were increased to 600,000 barrels after 1985. Deals were
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Although price discovery for the Brent Complex is driven in the Brent forward market, many hedgers and traders prefer to use futures contracts like the ICE Brent futures contract to avoid the risk of large physical deliveries. If the market participant is using Brent futures to hedge physical oil
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the spot market will find that other market participants can sell on the front month forward market or on prices referenced to a front month forward market price, and market actors who try to monopolize the front month forward market will find that they would lose what they earned in the forward
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Platts and other PRAs got around the problem by quoting both a dated Brent assessed on outright spot market transactions, and a "North Sea Date Brent Strip" assessed using a Front Month Brent forward price curve created out of adding the Brent Front Month contract price and relevant weekly Brent
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The index represents the average price of trading in the 25-day Brent Blend, Forties, Oseberg, Ekofisk (BFOE) market in the relevant delivery month as reported and confirmed by the industry media. Only published cargo size (600,000 barrels (95,000 m)) trades and assessments are taken into
445:(those with refinery operations) had the same motives, but had an extra incentive to lower taxes. Integrated oil producers faced taxes when transferring oil internally from production to refining operations. These taxes are calculated based on a reference price originally set by 503:
Platt's compile their assessment prices during price assessment 'windows', or specific times of market trading, usually close to the end of trading for a particular day. Trading in these windows are dominated by group of major market participants, as listed in the table below.
484:, and ICIS. Platts dominates the assessed Dated Brent price, Argus publishes a BFOET assessed crude price called Argus North Sea Dated crude price, and ICIS provides the final settlement data to the ICE Brent Index (which ultimately settles ICE Brent futures) since 2015. 110:
in 1976. As production from the Brent oilfield declined to zero in 2021, crude oil blends from other oil fields have been added to the trade classification. The current Brent blend consists of crude oil produced from the
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their production operations, and buying back oil from unrelated parties for their refining operations on the same market. This practice became less prevalent with the introduction of tougher regulations in 1987.
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Petroleum production from Europe, Africa, and the Middle East flowing West tends to be priced relative to this oil, i.e. it forms a benchmark. The other well-known classifications (also called references or
1757: 2554: 433:. Payment for deals were made 30 days after oil delivery. Since deals were bilateral and not centrally cleared like futures transactions, parties to the deal sought financial guarantees such as 258:, are traded using the symbol BB, and are cash settled based on the ICE Brent Crude Oil Futures 1st nearby contract settlement price on the penultimate trading day for the delivery month. 138:
is also known as Brent Blend, London Brent and Brent petroleum. This grade is described as light because of its relatively low density, and sweet because of its low sulphur content.
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The US Energy Information Administration attributes the price spread between WTI and Brent to an oversupply of crude oil in the interior of North America (WTI price is set at
165:, a physical and financial market for crude oil based around the North Sea of Northwest Europe, which could include numerous elements that can be referred to as Brent crude: 3295: 268:, are traded using the symbol BZ, and are cash settled based on the ICE Brent Crude Oil Index price as published one day after the final trading day for the delivery month. 1632: 1436: 1212: 2675: 1973: 1486: 1412: 487:
However, in the early 1990s, Brent and BFOET crude spot markets started to price transactions using assessed Dated Brent prices as benchmark prices, which created a
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A weighted average of second month cargo trades in the 25-day BFOE market plus or minus a straight average of the spread trades between the first and second months.
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this article is very technical and at the same time lacks references. After merging Brent Index article here, it also needs checking for potential repetitions.
87:, a physically and financially traded oil market based around the North Sea of Northwest Europe; colloquially, Brent Crude usually refers to the price of the 1963: 1837: 2445: 2440: 2425: 2420: 1968: 2390: 1514: 1116: 898: 476:
assessments from Price Reporting Agencies (PRAs), who collect private transactions data and aggregate them. The important PRAs for the Brent Complex are
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Thursday. The CFD market developed in 1988 in response to basis risk between the Brent futures/forward contract prices and the spot/dated Brent prices.
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Popular media references to "Brent crude" usually refers to the ICE Brent crude oil futures price. The ICE Brent crude oil futures price is part of the
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that diluted fundamental supply and demand information contained in the assessed Dated Brent price, and created incentives for speculative squeezes.
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contracts-for-difference (CFD) prices. These dated Brent prices became less vulnerable to speculative squeezes, since market actors who try to
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The Brent Contract for Differences (CFD): A Study of an Oil Trading Instrument, its Market and its Influence on the Behaviour of Oil Prices
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Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to set the price of two-thirds of the world's
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On April 20, 2020, the CME WTI futures contract for May 2020 settled at −US$ 37.63 a barrel due to oil demand shocks from the
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market in the spot market, as price effect they created in the front month contract will pass on to the dated Brent prices.
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and futures traded prices), and transfers risks of those transactions (through hedging in forward and futures markets).
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by these factors than WTI, negative prices are still possible should oil demand and storage capacity fall further.
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Andrew Inkpen, Michael H. Moffet. The Global Oil &Gas Industry. PennWell Corporation, Oklahoma, 2011. p. 372.
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Many reasons have been given for this divergence ranging from regional demand variations, to the depletion of the
3259: 2792: 2533: 2337: 835: 221: 88: 1775: 740: 719:. The name "Brent" comes from the naming policy of Shell UK Exploration and Production, operating on behalf of 438: 3310: 3184: 2241: 2233: 2184: 2135: 2055: 1940: 1935: 1810: 792: 768: 324: 308: 150: 2787: 2528: 2218: 2068: 1905: 1880: 1712: 1060: 1043: 3164: 2606: 2589: 2523: 2285: 2152: 2105: 2078: 1920: 1872: 1012: 752: 748: 358: 200: 146: 2206: 127:(added 2018) oil fields (also known as the BFOET Quotation) and oil drilled from Midland, Texas in the 3061: 2731: 2493: 2375: 2201: 2174: 2157: 2083: 1915: 401: 248:. They are ultimately priced in relation to the ICE Brent crude oil futures and the ICE Brent Index. 229: 3209: 3154: 3081: 2970: 2782: 2700: 2380: 2246: 1660: 779: 509:
Trading activity in the Platt's price assessment ‘window’ by participant from 2016 to May 16, 2019
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The ICE Futures Europe symbol for Brent crude oil futures is B. It was originally traded on the
1764:. Compiled CO2 atlas for the Norwegian Continental Shelf, 2014, Norwegian Petroleum Directorate 1102: 3204: 2332: 2307: 2110: 2095: 1738: 808: 724: 496: 413: 377: 120: 116: 112: 3031: 2752: 2355: 2273: 2191: 2029: 1910: 819: 434: 417: 393: 92: 3264: 3254: 2996: 2747: 2636: 2562: 2365: 2360: 2290: 2258: 2169: 1885: 1761: 1029: 788: 481: 124: 99: 96: 1690: 1001:, vol. 5, International Journal of Financial Markets and Derivatives, pp. 23–35 95:
or the contract itself. The original Brent Crude referred to a trading classification of
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The Brent Group, Uppermost Lower Jurassic to Middle Jurassic (Upper Toarcian–Bajocian).
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In addition to ICE, two types of Brent crude financial futures are also traded on the
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Brent-Forties-Oseberg-Ekofisk-Troll_WTI (BFOETI), Dated Brent, or Brent spot market
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switched to using Dated Brent as the spot transaction reference price by 1988.
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Spot price of West Texas Intermediate in relation to the price of Brent Crude
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in London starting in 1988, but since 2005 has been traded on the electronic
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Classification of crude oil that serves as a major worldwide benchmark price
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Short-Term Energy Outlook Supplement: Brent Crude Oil Spot Price Forecast
736: 727:, which originally named all of its fields after birds (in this case the 859:
A straight average of designated assessments published in media reports.
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Price discovery and risk transfer in the Brent crude oil futures market
949:"Move Over, Scotland. U.S. Oil Enters World's Most Important Benchmark" 796: 446: 3224: 3111: 3096: 3086: 3046: 2960: 1815: 804: 477: 429:
made bilaterally between two parties by telephone and confirmed by
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layers of the oil field: Broom, Rannoch, Etive, Ness and Tarbert.
430: 292: 241: 199: 71: 1609:"Contracts for Difference and the Evolution of the Brent Complex" 1462:"Contracts for Difference and the Evolution of the Brent Complex" 1388:"Contracts for Difference and the Evolution of the Brent Complex" 1263:"Contracts for Difference and the Evolution of the Brent Complex" 1079:"Contracts for Difference and the Evolution of the Brent Complex" 974:"Contracts for Difference and the Evolution of the Brent Complex" 845:
The index is calculated as an average of the following elements:
3234: 3174: 2927: 2405: 803:, yet not as sweet as WTI. Brent is suitable for production of 1819: 838:(ICE) Brent Future based on ICE Futures Brent index at expiry. 3066: 2932: 2705: 1142:"HWTI crude price goes negative for the first time in history" 29: 1565:
The Price Reporters: A Guide to PRAs and Commodity Benchmarks
1044:"Chapter 692: Brent Crude Oil Penultimate Financial Futures" 2695: 947:
Uberti, David; Henderson, Bob; Wallace, Joe (2023-05-31).
1318:. The Oxford Institute for Energy Studies. pp. 35–38 1293:. The Oxford Institute for Energy Studies. pp. 35–38 1061:"Chapter 698: Brent Crude Oil Last Day Financial Futures" 1713:"Shell's floating monster spill • Friends of the Earth" 1496:. The Oxford Institute for Energy Studies. pp. 3–4 1418:. The Oxford Institute for Energy Studies. pp. 3–4 1343:. The Oxford Institute for Energy Studies. pp. 4–5 1243:. The Oxford Institute for Energy Studies. pp. 3–4 1194:. The Oxford Institute for Energy Studies. pp. 3–4 408:
April 2020 WTI negative pricing and Brent vulnerability
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prices for purchases of oil worldwide, the other being
924:"Changes to the 'Dated Brent' benchmark: More to come" 853:
of first month cargo trades in the 25-day BFOE market.
1540:"The Brent Market An Analysis of Recent Developments" 1368:. The Oxford Institute for Energy Studies. p. 39 1363:"The Brent Market An Analysis of Recent Developments" 1338:"The Brent Market An Analysis of Recent Developments" 1288:"The Brent Market An Analysis of Recent Developments" 1238:"The Brent Market An Analysis of Recent Developments" 1189:"The Brent Market An Analysis of Recent Developments" 834:
The Brent Index is the cash settlement price for the
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Dated Brent assessed prices and the Brent spot market
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International Association of Oil & Gas Producers
1545:. The Oxford Institute for Energy Studies. p. 3 929:. The Oxford Institute for Energy Studies. p. 3 175:
Brent crude oil weekly Contract-for-Difference (CFD)
3273: 3139: 2989: 2941: 2729: 2686: 2671: 2662: 2547: 2464: 2346: 2232: 2126: 2054: 1997: 1956: 1949: 1871: 380:) caused by rapidly increasing oil production from 1633:"Specifications guide Europe and Africa crude oil" 1437:"Specifications guide Europe and Africa crude oil" 1213:"Specifications guide Europe and Africa crude oil" 83:may refer to any or all of the components of the 811:. It is typically refined in Northwest Europe. 625:Shell International Trading and Shipping Company 536:Shell International Trading and Shipping Company 1831: 1580:Crude: ARGUS North Sea Dated price assessment 997:Abdullahi, Saada A.; Muhammad, Zahid (2016), 715:Originally Brent Crude was produced from the 462:Brent crude oil contract-for-difference (CFD) 252:Brent Crude Oil Penultimate Financial Futures 204:Brent crude oil prices (in dollars and euros) 8: 1774:IntercontinentalExchange, Inc (2008-01-21), 1313:"An Anatomy of the Crude Oil Pricing System" 91:(Intercontinental Exchange) Brent Crude Oil 814:Brent Crude has a density of approximately 224:, known as ICE. One contract equals 1,000 2683: 2668: 1953: 1838: 1824: 1816: 1013:"The Role of WTI as a Crude Oil Benchmark" 795:(WTI). It contains approximately 0.37% of 1614:. The Oxford Institute for Energy Studies 1467:. The Oxford Institute for Energy Studies 1393:. The Oxford Institute for Energy Studies 1268:. The Oxford Institute for Energy Studies 1169:. The Oxford Institute for Energy Studies 1084:. The Oxford Institute for Energy Studies 979:. The Oxford Institute for Energy Studies 424:Brent crude oil monthly forward contracts 172:Brent crude oil monthly forward contracts 169:Brent crude oil monthly futures contracts 143:internationally traded crude oil supplies 1809:, US Energy Information Administration, 778: 506: 314: 284: 45:needs attention from an expert in Energy 2758:China National Offshore Oil Corporation 890: 2632:Unconventional (oil and gas) reservoir 2391:2020 Russia–Saudi Arabia oil price war 1602: 1600: 1598: 1596: 1515:"Platts Dated Brent vs other 'Brents'" 1485:Barrera-Rey, Fernando; Seymour, Adam. 1411:Barrera-Rey, Fernando; Seymour, Adam. 1101:US Energy Information Administration, 1018:. Purvin & Gertz Inc. p. 109. 899:"Platts Dated Brent vs other 'Brents'" 178:Dated Brent short-term assessed prices 55:may be able to help recruit an expert. 7: 2763:China National Petroleum Corporation 2823:National Iranian South Oil Company 2539:Western Canadian Sedimentary Basin 1657:"UK brent, crude oil, brent crude" 1140:Wallace, Cameron (20 April 2020). 1115:Kelly, Stephanie (20 April 2020). 25: 3291:Intercontinental Exchange Futures 3180:Chicago Bridge & Iron Company 2833:Oil & Gas Development Company 1607:Fattouh, Bassam; Imsirovic, Adi. 1460:Fattouh, Bassam; Imsirovic, Adi. 1386:Fattouh, Bassam; Imsirovic, Adi. 1261:Fattouh, Bassam; Imsirovic, Adi. 1162:Fattouh, Bassam; Imsirovic, Adi. 1077:Fattouh, Bassam; Imsirovic, Adi. 1032:. Intercontinental Exchange, Inc. 972:Fattouh, Bassam; Imsirovic, Adi. 266:Brent Crude Oil Financial Futures 246:Chicago Mercantile Exchange (CME) 196:Brent crude oil futures contracts 3328: 3327: 262:Brent Last Day Financial Futures 218:International Petroleum Exchange 34: 2838:Oil and Natural Gas Corporation 3306:Society of Petroleum Engineers 3077:Port Harcourt Refining Company 2743:Abu Dhabi National Oil Company 1687:www.investing-for-beginner.org 791:(LCO), though not as light as 711:Brent oilfield crude oil blend 184:Brent oilfield crude oil blend 1: 2252:Production sharing agreements 1638:. S&P Global Platts. 2020 1563:Johnson, Owain (2017-08-09), 1442:. S&P Global Platts. 2020 1218:. S&P Global Platts. 2020 1164:"Oil Benchmarks Under Stress" 151:West Texas Intermediate (WTI) 76:Oil platform in the North Sea 3286:Canadian petroleum companies 3281:American Petroleum Institute 2818:National Iranian Oil Company 2803:Kuwait Petroleum Corporation 384:reservoirs such as Canadian 145:. It is one of the two main 3301:International Energy Agency 2286:Enhanced oil recovery (EOR) 236:CME Brent crude oil futures 228:(159 m) and quoted in 209:ICE Brent crude oil futures 47:. The specific problem is: 3375: 2888:PTT Public Company Limited 2489:East Midlands Oil Province 2474:List of natural gas fields 2074:Integrated asset modelling 870:List of crude oil products 645:China Oil & Petroineos 636:Mercuria Energy Trading SA 605:Mercuria Energy Trading SA 3323: 3260:Weatherford International 2793:Iraq National Oil Company 1853: 836:Intercontinental Exchange 576:Glencore Commodities Ltd. 281:Price difference with WTI 222:Intercontinental Exchange 102:first extracted from the 818:, being equivalent to a 656:SOCAR Trading UK Limited 439:counterparty credit risk 3311:World Petroleum Council 3185:China Oilfield Services 2242:Petroleum fiscal regime 1941:Western Canadian Select 1936:West Texas Intermediate 1811:US Department of Energy 1567:(1 ed.), Routledge 793:West Texas Intermediate 769:West Texas Intermediate 392:formations such as the 325:West Texas Intermediate 309:West Texas Intermediate 256:Brent Crude Oil Futures 2788:Indian Oil Corporation 2274:Submersible pump (ESP) 2219:Underbalanced drilling 2040:of gasoline and diesel 784: 362: 312: 290: 205: 77: 3165:Cameron International 2607:Petrodollar recycling 2590:fossil fuel phase-out 2153:Differential sticking 2106:Reflection seismology 2079:Petroleum engineering 1921:OPEC Reference Basket 1030:"Brent Crude Futures" 782: 753:OPEC Reference Basket 359:OPEC Reference Basket 318: 296: 288: 203: 75: 3354:Benchmark crude oils 3062:Occidental Petroleum 2376:1990 oil price shock 2202:Shale oil extraction 2175:Drilling engineering 2158:Directional drilling 2084:Reservoir simulation 799:, classifying it as 731:). But it is also a 616:Hartree Partners, LP 585:BP Oil International 518:Brent BFOET Forwards 402:Eagle Ford Formation 342:(Russian export mix) 3359:Oil and gas markets 3210:Naftiran Intertrade 3155:Amec Foster Wheeler 3082:Reliance Industries 2971:Naftiran Intertrade 2783:Hindustan Petroleum 2381:2000s energy crisis 1487:"Executive Summary" 511: 3057:Marathon Petroleum 2479:List of oil fields 2089:Reservoir modeling 1847:Petroleum industry 1760:2016-05-08 at the 1719:. 24 December 2011 809:middle distillates 785: 763:, Shanghai Crude, 507: 398:Niobrara Formation 363: 313: 291: 206: 78: 53:WikiProject Energy 3341: 3340: 3319: 3318: 3205:Nabors Industries 3135: 3134: 2333:Well intervention 2308:Petroleum product 2207:Ljungström method 2111:Seismic inversion 2096:Petroleum geology 2050: 2049: 1743:978-1-59370-239-7 1683:"ベーシックな支払い方法について" 1311:Fattouh, Bassam. 787:Brent blend is a 725:Royal Dutch Shell 708: 707: 435:letters of credit 414:COVID-19 pandemic 378:Cushing, Oklahoma 332: Brent Crude 301: Brent Crude 244:(now part of the 70: 69: 16:(Redirected from 3366: 3331: 3330: 3032:Hess Corporation 2753:Bharat Petroleum 2684: 2669: 2356:1967 Oil Embargo 2192:Lost circulation 2030:Posted oil price 1954: 1911:Isthmus-34 Light 1840: 1833: 1826: 1817: 1790: 1789: 1788: 1787: 1782: 1771: 1765: 1752: 1746: 1735: 1729: 1728: 1726: 1724: 1709: 1703: 1702: 1700: 1698: 1689:. Archived from 1679: 1673: 1672: 1670: 1668: 1653: 1647: 1646: 1644: 1643: 1637: 1629: 1623: 1622: 1620: 1619: 1613: 1604: 1591: 1590: 1589: 1588: 1575: 1569: 1568: 1560: 1554: 1553: 1551: 1550: 1544: 1535: 1529: 1528: 1526: 1525: 1519: 1511: 1505: 1504: 1502: 1501: 1491: 1482: 1476: 1475: 1473: 1472: 1466: 1457: 1451: 1450: 1448: 1447: 1441: 1433: 1427: 1426: 1424: 1423: 1417: 1408: 1402: 1401: 1399: 1398: 1392: 1383: 1377: 1376: 1374: 1373: 1367: 1358: 1352: 1351: 1349: 1348: 1342: 1333: 1327: 1326: 1324: 1323: 1317: 1308: 1302: 1301: 1299: 1298: 1292: 1283: 1277: 1276: 1274: 1273: 1267: 1258: 1252: 1251: 1249: 1248: 1242: 1233: 1227: 1226: 1224: 1223: 1217: 1209: 1203: 1202: 1200: 1199: 1193: 1184: 1178: 1177: 1175: 1174: 1168: 1159: 1153: 1152: 1150: 1149: 1137: 1131: 1130: 1128: 1127: 1112: 1106: 1099: 1093: 1092: 1090: 1089: 1083: 1074: 1068: 1067: 1065: 1057: 1051: 1050: 1048: 1040: 1034: 1033: 1026: 1020: 1019: 1017: 1009: 1003: 1002: 994: 988: 987: 985: 984: 978: 969: 963: 962: 960: 959: 944: 938: 937: 935: 934: 928: 922:Imsirovic, Adi. 919: 913: 912: 910: 909: 903: 895: 851:weighted average 820:specific gravity 817: 783:Oil from Ekofisk 512: 418:negative pricing 394:Bakken Formation 356: 347: 337: 331: 322: 306: 300: 264:, also known as 254:, also known as 134:The Brent Crude 93:futures contract 65: 62: 56: 38: 37: 30: 21: 3374: 3373: 3369: 3368: 3367: 3365: 3364: 3363: 3344: 3343: 3342: 3337: 3315: 3269: 3265:John Wood Group 3255:Valaris Limited 3148: 3145: 3142: 3131: 2997:APA Corporation 2985: 2937: 2736: 2733: 2725: 2680: 2677: 2674: 2664: 2658: 2559:Classification 2543: 2466: 2460: 2396:Nationalization 2366:1979 oil crisis 2361:1973 oil crisis 2342: 2328:Water injection 2296:Steam injection 2291:Gas reinjection 2259:Artificial lift 2228: 2170:Drill stem test 2122: 2046: 1993: 1945: 1867: 1849: 1844: 1807:Crude oil types 1798: 1793: 1785: 1783: 1780: 1777:The Brent Index 1773: 1772: 1768: 1762:Wayback Machine 1753: 1749: 1736: 1732: 1722: 1720: 1711: 1710: 1706: 1696: 1694: 1681: 1680: 1676: 1666: 1664: 1663:on 7 March 2012 1655: 1654: 1650: 1641: 1639: 1635: 1631: 1630: 1626: 1617: 1615: 1611: 1606: 1605: 1594: 1586: 1584: 1577: 1576: 1572: 1562: 1561: 1557: 1548: 1546: 1542: 1538:Bacon, Robert. 1537: 1536: 1532: 1523: 1521: 1517: 1513: 1512: 1508: 1499: 1497: 1489: 1484: 1483: 1479: 1470: 1468: 1464: 1459: 1458: 1454: 1445: 1443: 1439: 1435: 1434: 1430: 1421: 1419: 1415: 1410: 1409: 1405: 1396: 1394: 1390: 1385: 1384: 1380: 1371: 1369: 1365: 1361:Bacon, Robert. 1360: 1359: 1355: 1346: 1344: 1340: 1336:Bacon, Robert. 1335: 1334: 1330: 1321: 1319: 1315: 1310: 1309: 1305: 1296: 1294: 1290: 1286:Bacon, Robert. 1285: 1284: 1280: 1271: 1269: 1265: 1260: 1259: 1255: 1246: 1244: 1240: 1236:Bacon, Robert. 1235: 1234: 1230: 1221: 1219: 1215: 1211: 1210: 1206: 1197: 1195: 1191: 1187:Bacon, Robert. 1186: 1185: 1181: 1172: 1170: 1166: 1161: 1160: 1156: 1147: 1145: 1139: 1138: 1134: 1125: 1123: 1114: 1113: 1109: 1105:, 10 July 2010. 1100: 1096: 1087: 1085: 1081: 1076: 1075: 1071: 1063: 1059: 1058: 1054: 1046: 1042: 1041: 1037: 1028: 1027: 1023: 1015: 1011: 1010: 1006: 996: 995: 991: 982: 980: 976: 971: 970: 966: 957: 955: 946: 945: 941: 932: 930: 926: 921: 920: 916: 907: 905: 901: 897: 896: 892: 888: 866: 842:consideration. 832: 822:of 0.835 or an 815: 789:light crude oil 777: 775:Characteristics 713: 473: 464: 426: 410: 361: 354: 352: 345: 343: 335: 333: 329: 327: 320: 311: 304: 302: 298: 283: 274: 272:Role in hedging 238: 211: 198: 187:ICE Brent Index 159: 100:light crude oil 66: 60: 57: 51: 39: 35: 28: 23: 22: 15: 12: 11: 5: 3372: 3370: 3362: 3361: 3356: 3346: 3345: 3339: 3338: 3336: 3335: 3324: 3321: 3320: 3317: 3316: 3314: 3313: 3308: 3303: 3298: 3293: 3288: 3283: 3277: 3275: 3271: 3270: 3268: 3267: 3262: 3257: 3252: 3247: 3242: 3237: 3232: 3227: 3222: 3217: 3212: 3207: 3202: 3197: 3192: 3187: 3182: 3177: 3172: 3167: 3162: 3157: 3151: 3149: 3140: 3137: 3136: 3133: 3132: 3130: 3129: 3124: 3119: 3114: 3109: 3104: 3102:Surgutneftegas 3099: 3094: 3089: 3084: 3079: 3074: 3069: 3064: 3059: 3054: 3049: 3044: 3039: 3034: 3029: 3024: 3022:Eneos Holdings 3019: 3014: 3012:ConocoPhillips 3009: 3004: 3002:Cenovus Energy 2999: 2993: 2991: 2987: 2986: 2984: 2983: 2978: 2973: 2968: 2963: 2958: 2953: 2947: 2945: 2943:Energy trading 2939: 2938: 2936: 2935: 2930: 2925: 2920: 2915: 2910: 2905: 2900: 2895: 2890: 2885: 2880: 2875: 2870: 2865: 2860: 2855: 2850: 2845: 2840: 2835: 2830: 2825: 2820: 2815: 2810: 2805: 2800: 2795: 2790: 2785: 2780: 2775: 2770: 2765: 2760: 2755: 2750: 2745: 2739: 2737: 2730: 2727: 2726: 2724: 2723: 2718: 2713: 2708: 2703: 2698: 2692: 2690: 2681: 2672: 2666: 2660: 2659: 2657: 2656: 2655: 2654: 2649: 2644: 2639: 2629: 2627:Swing producer 2624: 2619: 2614: 2609: 2604: 2599: 2598: 2597: 2592: 2582: 2577: 2572: 2571: 2570: 2565: 2557: 2551: 2549: 2545: 2544: 2542: 2541: 2536: 2531: 2526: 2521: 2516: 2511: 2506: 2501: 2499:Gulf of Mexico 2496: 2491: 2486: 2481: 2476: 2470: 2468: 2462: 2461: 2459: 2458: 2453: 2448: 2443: 2438: 2433: 2428: 2423: 2418: 2413: 2408: 2403: 2398: 2393: 2388: 2386:2010s oil glut 2383: 2378: 2373: 2371:1980s oil glut 2368: 2363: 2358: 2352: 2350: 2344: 2343: 2341: 2340: 2335: 2330: 2325: 2320: 2315: 2310: 2305: 2300: 2299: 2298: 2293: 2283: 2278: 2277: 2276: 2271: 2266: 2256: 2255: 2254: 2249: 2238: 2236: 2230: 2229: 2227: 2226: 2221: 2216: 2211: 2210: 2209: 2199: 2194: 2189: 2188: 2187: 2180:Drilling fluid 2177: 2172: 2167: 2166: 2165: 2155: 2150: 2149: 2148: 2138: 2132: 2130: 2124: 2123: 2121: 2120: 2118:Seismic source 2115: 2114: 2113: 2103: 2098: 2093: 2092: 2091: 2086: 2076: 2071: 2066: 2060: 2058: 2052: 2051: 2048: 2047: 2045: 2044: 2043: 2042: 2032: 2027: 2022: 2017: 2012: 2007: 2001: 1999: 1995: 1994: 1992: 1991: 1986: 1981: 1976: 1971: 1966: 1960: 1958: 1951: 1947: 1946: 1944: 1943: 1938: 1933: 1928: 1923: 1918: 1916:Japan Cocktail 1913: 1908: 1903: 1898: 1893: 1888: 1883: 1877: 1875: 1869: 1868: 1866: 1865: 1863:Primary energy 1860: 1854: 1851: 1850: 1845: 1843: 1842: 1835: 1828: 1820: 1814: 1813: 1804: 1797: 1796:External links 1794: 1792: 1791: 1766: 1747: 1730: 1704: 1674: 1648: 1624: 1592: 1570: 1555: 1530: 1506: 1477: 1452: 1428: 1403: 1378: 1353: 1328: 1303: 1278: 1253: 1228: 1204: 1179: 1154: 1132: 1121:Financial Post 1107: 1094: 1069: 1052: 1035: 1021: 1004: 989: 964: 939: 914: 889: 887: 884: 883: 882: 877: 872: 865: 862: 861: 860: 857: 854: 831: 828: 776: 773: 717:Brent Oilfield 712: 709: 706: 705: 702: 699: 697: 694: 691: 688: 687: 684: 681: 679: 676: 673: 670: 669: 666: 663: 660: 657: 654: 650: 649: 646: 643: 640: 637: 634: 630: 629: 626: 623: 620: 617: 614: 610: 609: 606: 603: 600: 597: 594: 590: 589: 586: 583: 580: 577: 574: 570: 569: 566: 563: 560: 557: 554: 550: 549: 546: 543: 540: 537: 534: 530: 529: 527: 524: 521: 519: 516: 472: 469: 463: 460: 425: 422: 409: 406: 382:unconventional 353: 344: 334: 328: 319: 303: 297: 282: 279: 273: 270: 237: 234: 210: 207: 197: 194: 189: 188: 185: 182: 179: 176: 173: 170: 158: 155: 131:(added 2023). 123:(added 2007), 119:(added 2002), 115:(added 2002), 104:Brent oilfield 68: 67: 42: 40: 33: 26: 24: 14: 13: 10: 9: 6: 4: 3: 2: 3371: 3360: 3357: 3355: 3352: 3351: 3349: 3334: 3326: 3325: 3322: 3312: 3309: 3307: 3304: 3302: 3299: 3297: 3294: 3292: 3289: 3287: 3284: 3282: 3279: 3278: 3276: 3272: 3266: 3263: 3261: 3258: 3256: 3253: 3251: 3248: 3246: 3243: 3241: 3238: 3236: 3233: 3231: 3228: 3226: 3223: 3221: 3218: 3216: 3213: 3211: 3208: 3206: 3203: 3201: 3198: 3196: 3193: 3191: 3188: 3186: 3183: 3181: 3178: 3176: 3173: 3171: 3168: 3166: 3163: 3161: 3158: 3156: 3153: 3152: 3150: 3147: 3138: 3128: 3127:Valero Energy 3125: 3123: 3120: 3118: 3115: 3113: 3110: 3108: 3105: 3103: 3100: 3098: 3095: 3093: 3092:Suncor Energy 3090: 3088: 3085: 3083: 3080: 3078: 3075: 3073: 3070: 3068: 3065: 3063: 3060: 3058: 3055: 3053: 3050: 3048: 3045: 3043: 3040: 3038: 3035: 3033: 3030: 3028: 3025: 3023: 3020: 3018: 3015: 3013: 3010: 3008: 3005: 3003: 3000: 2998: 2995: 2994: 2992: 2988: 2982: 2979: 2977: 2974: 2972: 2969: 2967: 2964: 2962: 2959: 2957: 2954: 2952: 2949: 2948: 2946: 2944: 2940: 2934: 2931: 2929: 2926: 2924: 2921: 2919: 2916: 2914: 2911: 2909: 2906: 2904: 2901: 2899: 2896: 2894: 2891: 2889: 2886: 2884: 2881: 2879: 2876: 2874: 2871: 2869: 2866: 2864: 2861: 2859: 2856: 2854: 2851: 2849: 2846: 2844: 2841: 2839: 2836: 2834: 2831: 2829: 2826: 2824: 2821: 2819: 2816: 2814: 2811: 2809: 2806: 2804: 2801: 2799: 2796: 2794: 2791: 2789: 2786: 2784: 2781: 2779: 2776: 2774: 2771: 2769: 2766: 2764: 2761: 2759: 2756: 2754: 2751: 2749: 2746: 2744: 2741: 2740: 2738: 2735: 2728: 2722: 2721:TotalEnergies 2719: 2717: 2714: 2712: 2709: 2707: 2704: 2702: 2699: 2697: 2694: 2693: 2691: 2689: 2685: 2682: 2679: 2670: 2667: 2665:organisations 2663:Companies and 2661: 2653: 2650: 2648: 2645: 2643: 2640: 2638: 2635: 2634: 2633: 2630: 2628: 2625: 2623: 2620: 2618: 2615: 2613: 2610: 2608: 2605: 2603: 2602:Petrocurrency 2600: 2596: 2593: 2591: 2588: 2587: 2586: 2583: 2581: 2578: 2576: 2575:Oil shale gas 2573: 2569: 2566: 2564: 2561: 2560: 2558: 2556: 2555:Abbreviations 2553: 2552: 2550: 2546: 2540: 2537: 2535: 2532: 2530: 2527: 2525: 2522: 2520: 2517: 2515: 2514:Permian Basin 2512: 2510: 2507: 2505: 2502: 2500: 2497: 2495: 2492: 2490: 2487: 2485: 2482: 2480: 2477: 2475: 2472: 2471: 2469: 2463: 2457: 2454: 2452: 2451:United States 2449: 2447: 2444: 2442: 2439: 2437: 2434: 2432: 2429: 2427: 2424: 2422: 2419: 2417: 2414: 2412: 2411:Seven Sisters 2409: 2407: 2404: 2402: 2399: 2397: 2394: 2392: 2389: 2387: 2384: 2382: 2379: 2377: 2374: 2372: 2369: 2367: 2364: 2362: 2359: 2357: 2354: 2353: 2351: 2349: 2345: 2339: 2336: 2334: 2331: 2329: 2326: 2324: 2321: 2319: 2316: 2314: 2311: 2309: 2306: 2304: 2301: 2297: 2294: 2292: 2289: 2288: 2287: 2284: 2282: 2279: 2275: 2272: 2270: 2267: 2265: 2262: 2261: 2260: 2257: 2253: 2250: 2248: 2245: 2244: 2243: 2240: 2239: 2237: 2235: 2231: 2225: 2222: 2220: 2217: 2215: 2212: 2208: 2205: 2204: 2203: 2200: 2198: 2195: 2193: 2190: 2186: 2183: 2182: 2181: 2178: 2176: 2173: 2171: 2168: 2164: 2161: 2160: 2159: 2156: 2154: 2151: 2147: 2144: 2143: 2142: 2139: 2137: 2134: 2133: 2131: 2129: 2125: 2119: 2116: 2112: 2109: 2108: 2107: 2104: 2102: 2099: 2097: 2094: 2090: 2087: 2085: 2082: 2081: 2080: 2077: 2075: 2072: 2070: 2067: 2065: 2064:Core sampling 2062: 2061: 2059: 2057: 2053: 2041: 2038: 2037: 2036: 2033: 2031: 2028: 2026: 2023: 2021: 2018: 2016: 2013: 2011: 2008: 2006: 2003: 2002: 2000: 1996: 1990: 1987: 1985: 1982: 1980: 1977: 1975: 1972: 1970: 1967: 1965: 1962: 1961: 1959: 1955: 1952: 1948: 1942: 1939: 1937: 1934: 1932: 1929: 1927: 1924: 1922: 1919: 1917: 1914: 1912: 1909: 1907: 1904: 1902: 1901:Indian Basket 1899: 1897: 1894: 1892: 1889: 1887: 1884: 1882: 1879: 1878: 1876: 1874: 1870: 1864: 1861: 1859: 1856: 1855: 1852: 1848: 1841: 1836: 1834: 1829: 1827: 1822: 1821: 1818: 1812: 1808: 1805: 1803: 1800: 1799: 1795: 1779: 1778: 1770: 1767: 1763: 1759: 1756: 1751: 1748: 1744: 1740: 1734: 1731: 1718: 1714: 1708: 1705: 1693:on 2012-12-25 1692: 1688: 1684: 1678: 1675: 1662: 1658: 1652: 1649: 1634: 1628: 1625: 1610: 1603: 1601: 1599: 1597: 1593: 1583:, Argus Media 1582: 1581: 1574: 1571: 1566: 1559: 1556: 1541: 1534: 1531: 1516: 1510: 1507: 1495: 1488: 1481: 1478: 1463: 1456: 1453: 1438: 1432: 1429: 1414: 1407: 1404: 1389: 1382: 1379: 1364: 1357: 1354: 1339: 1332: 1329: 1314: 1307: 1304: 1289: 1282: 1279: 1264: 1257: 1254: 1239: 1232: 1229: 1214: 1208: 1205: 1190: 1183: 1180: 1165: 1158: 1155: 1143: 1136: 1133: 1122: 1118: 1111: 1108: 1104: 1098: 1095: 1080: 1073: 1070: 1062: 1056: 1053: 1045: 1039: 1036: 1031: 1025: 1022: 1014: 1008: 1005: 1000: 993: 990: 975: 968: 965: 954: 950: 943: 940: 925: 918: 915: 900: 894: 891: 885: 881: 878: 876: 873: 871: 868: 867: 863: 858: 855: 852: 848: 847: 846: 843: 839: 837: 829: 827: 825: 821: 816:835 kg/m 812: 810: 806: 802: 798: 794: 790: 781: 774: 772: 770: 766: 762: 758: 754: 750: 744: 742: 738: 734: 730: 726: 722: 718: 710: 703: 700: 698: 695: 692: 690: 689: 685: 682: 680: 677: 674: 672: 671: 667: 664: 661: 658: 655: 652: 651: 647: 644: 641: 638: 635: 632: 631: 627: 624: 621: 618: 615: 612: 611: 607: 604: 601: 598: 595: 592: 591: 587: 584: 581: 578: 575: 572: 571: 567: 564: 561: 558: 555: 552: 551: 547: 544: 541: 538: 535: 532: 531: 528: 525: 522: 520: 517: 514: 513: 510: 505: 501: 498: 492: 490: 489:feedback loop 485: 483: 479: 470: 468: 461: 459: 455: 451: 448: 442: 440: 436: 432: 423: 421: 419: 415: 407: 405: 403: 399: 395: 391: 387: 383: 379: 374: 372: 371:North Sea oil 367: 360: 351: 341: 326: 317: 310: 295: 287: 280: 278: 271: 269: 267: 263: 259: 257: 253: 249: 247: 243: 235: 233: 231: 227: 223: 219: 216: 208: 202: 195: 193: 186: 183: 180: 177: 174: 171: 168: 167: 166: 164: 163:Brent Complex 157:Brent Complex 156: 154: 152: 148: 144: 139: 137: 132: 130: 129:Permian Basin 126: 122: 118: 114: 109: 105: 101: 98: 94: 90: 86: 85:Brent Complex 82: 74: 64: 54: 50: 46: 43:This article 41: 32: 31: 19: 3230:Schlumberger 3160:Baker Hughes 3052:Marathon Oil 3042:Imperial Oil 3037:Husky Energy 3027:Galp Energia 3017:Devon Energy 2903:Saudi Aramco 2883:Petrovietnam 2828:NNPC Limited 2732:National oil 2612:Petrofiction 2580:Orphan wells 2548:Other topics 2519:Persian Gulf 2446:Saudi Arabia 2416:Standard Oil 2224:Well logging 2101:Petrophysics 1890: 1784:, retrieved 1776: 1769: 1750: 1733: 1721:. Retrieved 1716: 1707: 1695:. Retrieved 1691:the original 1686: 1677: 1665:. Retrieved 1661:the original 1651: 1640:. Retrieved 1627: 1616:. Retrieved 1585:, retrieved 1579: 1573: 1564: 1558: 1547:. Retrieved 1533: 1522:. Retrieved 1509: 1498:. Retrieved 1493: 1480: 1469:. Retrieved 1455: 1444:. Retrieved 1431: 1420:. Retrieved 1406: 1395:. Retrieved 1381: 1370:. Retrieved 1356: 1345:. Retrieved 1331: 1320:. Retrieved 1306: 1295:. Retrieved 1281: 1270:. Retrieved 1256: 1245:. Retrieved 1231: 1220:. Retrieved 1207: 1196:. Retrieved 1182: 1171:. Retrieved 1157: 1146:. Retrieved 1135: 1124:. Retrieved 1120: 1110: 1097: 1086:. Retrieved 1072: 1066:. CME Group. 1055: 1049:. CME Group. 1038: 1024: 1007: 998: 992: 981:. Retrieved 967: 956:. Retrieved 952: 942: 931:. Retrieved 917: 906:. Retrieved 893: 844: 840: 833: 813: 786: 745: 714: 508: 502: 493: 486: 474: 465: 456: 452: 443: 437:to minimize 427: 411: 375: 368: 364: 275: 265: 261: 260: 255: 251: 250: 239: 230:U.S. dollars 212: 190: 162: 160: 140: 133: 84: 80: 79: 61:January 2015 58: 48: 44: 3200:Halliburton 3072:Phillips 66 2893:QatarEnergy 2863:Petrobangla 2798:KazMunayGas 2688:Supermajors 2637:heavy crude 2524:Prudhoe Bay 2504:Niger Delta 2484:Caspian Sea 2247:Concessions 2197:Measurement 2163:Geosteering 2146:Squeeze job 2056:Exploration 2005:Consumption 1964:Consumption 1957:Natural gas 1886:Bonny Light 1520:. p. 1 1144:. World Oil 904:. p. 1 875:Petrobourse 830:Brent Index 824:API gravity 801:sweet crude 757:Dubai Crude 729:brent goose 665:Statoil ASA 350:Dubai Crude 215:open outcry 81:Brent Crude 18:Brent Blend 3348:Categories 3250:Transocean 3117:Tullow Oil 3107:TechnipFMC 2873:PetroChina 2711:ExxonMobil 2617:Shale band 2494:East Texas 2467:and fields 2281:Downstream 2234:Production 2141:Completion 2069:Geophysics 2010:Production 1969:Production 1906:Indonesian 1881:Argus Sour 1873:Benchmarks 1802:Definition 1786:2010-04-28 1642:2020-05-16 1618:2020-05-16 1587:2020-05-16 1549:2020-05-16 1524:2020-05-15 1500:2020-05-16 1471:2020-05-16 1446:2020-05-16 1422:2020-05-16 1397:2020-05-16 1372:2020-05-16 1347:2020-05-16 1322:2020-05-16 1297:2020-05-16 1272:2020-05-16 1247:2020-05-16 1222:2020-05-16 1198:2020-05-16 1173:2020-05-25 1148:2020-05-25 1126:2020-05-25 1088:2020-05-16 983:2020-05-16 958:2023-09-04 933:2020-05-15 908:2020-05-15 886:References 826:of 38.06. 761:Oman Crude 751:) are the 749:benchmarks 721:ExxonMobil 136:oil marker 3245:TC Energy 3146:companies 2976:Trafigura 2923:Sonatrach 2868:Petrobras 2858:Pertamina 2768:Ecopetrol 2734:companies 2678:companies 2676:petroleum 2652:tight oil 2647:oil shale 2642:oil sands 2622:Shale gas 2563:sweet oil 2534:Venezuela 2509:North Sea 2465:Provinces 2456:Venezuela 2303:Midstream 1998:Petroleum 1858:Petroleum 880:Petroeuro 765:Urals oil 741:formation 733:backronym 596:Gunvor SA 565:Gunvor SA 390:tight oil 386:oil sands 340:Urals oil 147:benchmark 108:North Sea 3333:Category 3240:Subsea 7 3220:Petrofac 3215:NOV Inc. 3195:GE Power 3190:Enbridge 3144:services 2966:Mercuria 2956:Glencore 2918:Sonangol 2878:Petronas 2813:Naftogaz 2585:Peak oil 2568:sour oil 2323:Upstream 2318:Refining 2313:Pipeline 2269:Pumpjack 2264:Gas lift 2185:invasion 2128:Drilling 2015:Reserves 1974:Reserves 1758:Archived 1723:23 March 1697:23 March 1667:25 March 864:See also 739:for the 737:mnemonic 704:100.00% 556:Vitol SA 545:Vitol SA 373:fields. 2908:Sinopec 2898:Rosneft 2778:Gazprom 2773:Equinor 2701:Chevron 2348:History 2214:Tracers 2136:Blowout 2025:Exports 2020:Imports 1984:Exports 1979:Imports 1717:foe.org 797:sulphur 771:(WTI). 696:100.00% 686:32.84% 568:11.04% 548:11.83% 226:barrels 121:Ekofisk 117:Oseberg 113:Forties 106:in the 3274:Others 3225:Saipem 3122:Tüpraş 3112:TNK-BP 3097:Sunoco 3087:Repsol 3047:Lukoil 2990:Others 2961:Gunvor 2595:timing 2529:Russia 2441:Norway 2426:France 2421:Canada 1741:  805:petrol 683:Others 678:23.24% 675:Others 668:7.67% 648:8.59% 628:8.19% 608:9.86% 599:10.57% 588:9.99% 579:10.01% 559:11.62% 539:16.47% 497:corner 478:Platts 400:, and 357:  355:  348:  346:  338:  336:  330:  323:  321:  307:  305:  299:  3141:Major 3007:Cepsa 2981:Vitol 2951:Enron 2913:SOCAR 2853:Pemex 2848:PDVSA 2843:Orlen 2808:Lotos 2748:ANCAP 2716:Shell 2673:Major 2431:India 2035:Price 1989:Price 1931:Urals 1926:Tapis 1896:Dubai 1891:Brent 1781:(PDF) 1636:(PDF) 1612:(PDF) 1543:(PDF) 1518:(PDF) 1490:(PDF) 1465:(PDF) 1440:(PDF) 1416:(PDF) 1391:(PDF) 1366:(PDF) 1341:(PDF) 1316:(PDF) 1291:(PDF) 1266:(PDF) 1241:(PDF) 1216:(PDF) 1192:(PDF) 1167:(PDF) 1082:(PDF) 1064:(PDF) 1047:(PDF) 1016:(PDF) 977:(PDF) 927:(PDF) 902:(PDF) 701:Total 693:Total 659:8.94% 639:9.37% 619:9.80% 482:Argus 431:telex 242:NYMEX 125:Troll 97:sweet 3235:Snam 3175:CH2M 2928:TPAO 2436:Iraq 2406:OPEC 2401:GECF 1950:Data 1739:ISBN 1725:2018 1699:2018 1669:2012 807:and 767:and 723:and 526:CFDs 523:Rank 515:Rank 447:BNOC 388:and 3170:CGG 3067:OMV 2933:YPF 2706:Eni 953:WSJ 735:or 89:ICE 3350:: 2696:BP 2338:XT 1715:. 1685:. 1595:^ 1492:. 1119:. 951:. 849:A 759:, 755:, 480:, 396:, 153:. 1839:e 1832:t 1825:v 1745:. 1727:. 1701:. 1671:. 1645:. 1621:. 1552:. 1527:. 1503:. 1474:. 1449:. 1425:. 1400:. 1375:. 1350:. 1325:. 1300:. 1275:. 1250:. 1225:. 1201:. 1176:. 1151:. 1129:. 1091:. 986:. 961:. 936:. 911:. 662:7 653:7 642:6 633:6 622:5 613:5 602:4 593:4 582:3 573:3 562:2 553:2 542:1 533:1 63:) 59:( 20:)

Index

Brent Blend
WikiProject Energy

ICE
futures contract
sweet
light crude oil
Brent oilfield
North Sea
Forties
Oseberg
Ekofisk
Troll
Permian Basin
oil marker
internationally traded crude oil supplies
benchmark
West Texas Intermediate (WTI)

open outcry
International Petroleum Exchange
Intercontinental Exchange
barrels
U.S. dollars
NYMEX
Chicago Mercantile Exchange (CME)


West Texas Intermediate

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