Crude Oil (CL)

Crude Oil (CL)

Light Sweet Crude Oil – Reference (marker) grade of oil that is produced in Texas (USA). Due to its low sulfur content and relatively high yields of useful products in high demand, mainly to produce gasoline and therefore the type of oil is in high demand, particularly in the US and China. The price of oil Light Sweet Crude Oil is the basis for pricing world oil prices.

For technically valuable petroleum products, mainly of motor fuels, solvents, raw materials for chemical industry, it is processed. Oil holds a leading position in the global energy balance: its share in the total consumption of energy is 48%. In the future, this share will decrease due to the increasing use of nuclear and other types of energy as well as increasing the cost and decreasing production.

With the rapid development of the world’s petroleum and petrochemical industries, the demand for oil is increased, not only to enhance the production of fuels and oils but also as a valuable source of raw materials for the production of synthetic rubber, fibers, plastics, detergents, plasticizers, additives, dyes and (more than 8% of the world production volume).