Crude Oil 101: All You Need to Know

Crude Oil 101: All You Need to Know

It is actively and transparently traded on the global energy exchanges “” on a daily basis.

Market prices for crude oil and refined products at any time are a function of current and future supply and demand conditions, and are evaluated according to a variety of scenarios.

For crude oil, this includes general economic conditions, natural disasters and geopolitical or military events, especially in major oil-producing areas.

The price of crude oil affects the price of the refined product, but the primary balance of supply and demand for specific refined products (such as LPG, gasoline, jet fuel, and diesel) is often more important in influencing trade decisions and setting the selling price, depending on the specifications and pricing mechanism.

The advantages of more complex refineries compared to typical refineries are as follows:

1. Increasing the