OIL MARKETS & PRICES
When energy analysts and the media discuss the price of crude oil, they are typically referring to one of a small group of specific types of crude oil that are widely and actively bought and sold. The use of such benchmark crudes makes it easier for buyers and sellers to price the variety of crudes that are produced around the world.
The most widely used benchmarks are associated with crude oil that has four common qualities: stable and ample production;…
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