International Oil Prices

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International Oil Prices

As per available reports about 25 relevant Journals, 20 Conferences, 10 Workshops are presently dedicated exclusively to Petrochemistry and about 2,550 articles are being published on International Oil Prices.

The cost of petroleum as cited in news in North America by and large alludes to the WTI Cushing Crude Oil Spot Price West Texas Intermediate (WTI), otherwise called Texas Light Sweet, is a sort of unrefined petroleum utilized as a benchmark as a part of oil valuing and the underlying item of New York Mercantile Exchange's oil fates contracts. WTI is a light raw petroleum, lighter than Brent Crude oil. It contains around 0.24% sulfur, rating it a sweet rough, sweeter than Brent. Its properties and creation site make it perfect for being refined in the United States, generally in the Midwest and Gulf Coast areas. WTI has an API gravity of around 39.6 (particular gravity approx. 0.827) for every barrel (159 liters) of either WTI/light rough as exchanged on the New York Mercantile Exchange (NYMEX) for conveyance at Cushing, Oklahoma, or of Brent as exchanged on the Intercontinental Exchange (ICE, into which the International Petroleum Exchange has been joined) for conveyance at Sullom Voe. Cushing, Oklahoma, a real oil supply center associating oil suppliers to the Gulf Coast, has turned into the most critical exchanging center point for raw petroleum in North America.

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Scope and Importance:

The fall in global oil prices couldn’t have come at a more opportune time for India. In August, oil imports dropped 15 percent year-on-year, driven primarily by a fall of $10 per barrel in prices. Brent has fallen below $100 over the past month, and could slip further. Increasing supplies from the United States and slowing demand are contributing to the weakness in prices. This offers India several benefits. First, the scope for elimination of diesel subsidy. While the government has been steadily increasing the retail price of diesel in the domestic market, the fall in oil prices has nearly wiped off the need for subsidised support. Assuming the rupee stays stable, the government has a golden opportunity to market-link diesel prices.

Market Analysis:  

Petrochemical Markets provides detailed supply, demand and price forecasts of the key petrochemical feedstock naphtha along with an overview of the petrochemicals market including ethylene, propylene, benzene and paraxylene. The service also provides analysis on cracking economics, arbitrage economics, refinery and petrochemical facility turnarounds and their impacts on regional balance. Clients make confident decisions based on actionable insight from HIS Energy’s in-depth knowledge of market forces and political developments that drive petrochemical feedstock market combined with deep quantitative detail and extensive industry experience.

Relevant Associations and Societies

South Carolina Petroleum Association
Society of Petroleum Engineers
AAPG (American Association of Petroleum Geologists)
Alabama Petroleum Council
Association of Petroleum Landmen

Related Conferences:

4th Petrochemistry and Chemical Engineering Conference
December 5-6, 2016 Seattle, USA

2nd Oil and Gas Conference
November 10-12, 2016 Istanbul, Turkey

2nd Petroliferous Basins Conference
October 31-November 02, 2016 London, UK

2nd Geology Conference
April 21-22, 2016 Dubai, UAE

Pollution Control & Sustainable Environment Conference
April 25-26, 2016 Dubai, UAE

Mining and Metallurgy  Conference
June 27-29, 2016 Cape Town, South Africa

Petroleum and Refinery Conference
July 21-23, 2016 Brisbane, Australia

5th Earth Science and Climate Change Conference
July 25-27, 2016 Bangkok, Thailand

SPE Oilfield Scale Conference
Aberdeen, UK

Oil & Gas Polymer Conference
Houston, USA

Oil and Gas Conference
Perth, Australia

TUROGE Conference
Ankara, Turkey

IADC/SPE Drilling Conference
Woodlands, Texas

SPE EOR Oil and Gas Conference
Muscat, Oman

 

Major Companies Associated

Access Industries
BJ Services Company
Blacksands Pacific
BNK Petroleum
Buckeye Partners
Burlington Resources
Cabot Oil & Gas
Caltex
Castrol
Chemoil

 

This page will be updated regularly.

This page was last updated on April 25, 2024