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Introduction
 

Hundreds of different types of crudes are traded across the world-161 to be precise, according to the International Crude Oil Market Handbook, 2004 published by the Energy Intelligence Group. However, more than half of the oil traded is priced against just two benchmarks-the Brent and the WTI.

General Characteristics

 Categories of Crude oil

 Crude Oil Units (average gravity)

 Global Scenario

OPEC fact sheet

OPEC stands for 'Organization of Petroleum Exporting Countries'. It is an organization of eleven developing countries that are heavily dependent on oil revenues as their main source of income. The current Members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

  Market Influencing Factors

 Exchanges dealing in Crude Futures

 

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