Oil Price Index Comments Off on Oil Price Index

What is Oil Price Index?

The price of oil usually refers to the spot price of a barrel of benchmark crude oil. It is a reference price for buyers and sellers of crude oil.

The pricing of a barrel varies based on its grade. The grade is determined based on different factors such as its sulphur content, specific gravity or API, and its location. For example, sour crude oils that are heavier and lacking in tidewater access (e.g., Western Canadian Select) are cheaper compared to lighter, sweeter oil (e.g., West Texas Intermediate or WTI).

There are three major benchmarks — West Texas Intermediate (WTI), Brent Blend, and Dubai Crude.

History of...

Types of ...

Common features of ...

Related articles about ...

Sources

Archived news

Previous ArticleNext Article