Oil industry classifies crude oil according to the place of origin (for example, WTI or Brent) and often by specific gravity and an API (American Petroleum Institute API). Or by its density (light K. medium, heavy), and of carrying out the refining releasing him "sweet or heady" When there are small amounts of sulfur, or "over" which means the presence of large amounts of sulfur and requires further distillation to obtain the standards of production.
Global units per barrel are:
* Brent contains 15 kind of Brent oil from the fields and the system Ninian Shetland basin east. In general, oil production from Europe, Africa, the Middle East beyond the western border, which seeks to determine oil prices, leading to classify according to the sign of a pilot. See also Brent.
* WTI "W T any" (West Texas Intermediate WTI) oil to North America.
* Dubai used as a pilot for the Asia-Pacific to Middle East oil.
* Tapies from Malaysia, used as a reference light oil in the Far East.
* Minas from Indonesia, used as a reference for heavy oil in the Far East.
The OPEC basket is made up of:
* Light, Saudi Arabia's oil
* Bonnie light Nigerian oil
* Light Dubai
* Asems Mexico (does not follow OPEC)
* Minas Indonesia (no longer follow OPEC)
* A mixture of two months (deserts Blend) Algeria
Tia Juana Light Venezuela
OPEC is trying to keep the price of the OPEC basket between the upper and lower limits, an increase or decrease production. This makes the market analysis factor is very important. The OPEC basket includes a mix of heavy and light crude oil, which is heavier than Brent, WTI any.
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Global units per barrel are:
* Brent contains 15 kind of Brent oil from the fields and the system Ninian Shetland basin east. In general, oil production from Europe, Africa, the Middle East beyond the western border, which seeks to determine oil prices, leading to classify according to the sign of a pilot. See also Brent.
* WTI "W T any" (West Texas Intermediate WTI) oil to North America.
* Dubai used as a pilot for the Asia-Pacific to Middle East oil.
* Tapies from Malaysia, used as a reference light oil in the Far East.
* Minas from Indonesia, used as a reference for heavy oil in the Far East.
The OPEC basket is made up of:
* Light, Saudi Arabia's oil
* Bonnie light Nigerian oil
* Light Dubai
* Asems Mexico (does not follow OPEC)
* Minas Indonesia (no longer follow OPEC)
* A mixture of two months (deserts Blend) Algeria
Tia Juana Light Venezuela
OPEC is trying to keep the price of the OPEC basket between the upper and lower limits, an increase or decrease production. This makes the market analysis factor is very important. The OPEC basket includes a mix of heavy and light crude oil, which is heavier than Brent, WTI any.
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