The commercial buyer
or seller may exchange a futures position
for a physical position of equal quantity by
submitting a notice to the Exchange.
Trading Hours (New York time)
Open trading is conducted from 9:00 AM until
2:30 PM.
Electronic trading is conducted from 6:00 PM
until 5:15 PM via the CME Globex® trading
platform, Sunday through Friday.
Crude Oil
import and export, producers, exporters,
importers, wholesalers.
In petroleum industry
production refers to the quantity of crude
oil extracted from reserves.
Top crude oil
exporters list:
Saudi Arabia
Russia
Norway
Iran
United Arab Emirates
Venezuela
Kuwait
Nigeria
Algeria
Mexico
Libya
Iraq
Angola
Kazakhstan
Canada
Top crude
oil importers list:
United States
Japan
China
Germany
South Korea
France
India
Italy
Spain
Taiwan
Netherlands
Singapore
Thailand
Turkey
Belgium
West Texas
Intermediate is a very high-quality, sweet,
light oil delivered at Cushing, Oklahoma.
Brent Blend,
comprising 15 oils from fields in the Brent
and Ninian systems in the East Shetland
Basin of the North Sea.
The OPEC Reference
Basket, a weighted average of oil blends
from various OPEC countries.
The petroleum industry
is involved in the global processes of
exploration, extraction, refining,
transporting and marketing petroleum
products.
The largest volume
products of the industry are fuel oil and
gasoline. Petroleum is also the raw material
for many chemical products, including
pharmaceuticals, solvents, fertilizers,
pesticides, and plastics.
The most common
distillations of petroleum are fuels:
Ethane and other
short-chain alkanes
Diesel fuel
Fuel oils
Gasoline
Jet fuel
Kerosene
Liquefied petroleum
gas
Other
Petroleum Products:
Petroleum Products:
Bitumen
Petroleum Products: Coke
Petroleum Products: Graphite
Petroleum Products: Lubricant
Petroleum Products: Paraffin
