oil rates in world market

In December 2005 the global demand for crude oil was.3 million barrels per day according to the International Energy Agency (IEA) and this will continue to rise further.
For the purposes of trading on futures exchanges in London or New York, however, reference oils are used.
Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure.The price of oil is the most important value on the international commodity markets.The supply of crude oil is limited, however, and cannot be increased further, since it has become increasingly difficult to find and develop new oil reserves in recent years.Crude oil is one of the most demanded commodities and prices have significantly increased in recent times.These are standardised products used to determine the prices for all other types.The best online furniture stores los angeles most important type of crude oil used in Europe is Brent Crude, named after the North Sea oilfield where it is extracted.
Are you sure you want to change your settings?Two major benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent.Because the crude oil industry has developed hardly at all in recent years due to a lack of investment capital for discovery, extraction and further processing, global production can barely meet the high demand for crude oil from countries such as the USA, China.Gray Blue," Search, select a default target page for your" search: Real-Time, after Hours, pre-Market.The reference oil traded most frequently and of major significance for the USA is West Texas Intermediate (WTI while the most important in Asia is Dubai Fateh.