ICIS has a long history in examining and reporting on the global crude oil markets. Our experts based locally throughout the globe provide market players with the latest daily pricing information for Americas, Arab Gulf, Asia, CIS, Mediterranean, North Sea and West Africa. Our market intelligence includes in-depth analysis on factors driving the price of crude, plus market reviews and outlooks. Our World Crude Report (WCR) and our Global overview give market insights and deliver all the information needed to stay on top of developments across global markets, for more confident trading and forecasting.
Our crude oil market insights deliver all the information needed to stay on top of developments across global markets, for more confident trading and forecasting.
Crude Oil Overview Video
Crude oil is produced all over the world. Some fields large some are small, some are high sulphur, some are low sulphur; some are very light, some are very heavy. But they all end up in a refinery.
There they get changed into the products that you use every day: gasoline which you drive your car with, the heating oil that you heat your house with. And the other stuff, like heavy fuel oil which basically we put out in the ships of the world and they burn it out at sea because we don’t like the sulphurous fumes they create.
How is crude oil traded? Physical cargoes trade every day. Producers sell them, refiners buy them.
But there is another side to the market, the international exchanges. Speculators trade these every day like they do the stock market.
Supply and demand doesn’t have everything to do with the price of oil. The strength of the US dollar does. Economic data out of the powerhouse economies of China and the US drives the world as well.
And there’s all sorts of other various geopolitical factors that can turn the price of oil upside down within 10 minutes during a day.
The price of oil on the international markets swings by dollars it can rise $2 in 10 minutes and give it all back in the next. Speculation, that’s trading.
How we can help
Crude oil news and market information products from ICIS
We offer the following regional Crude oil analysis and news coverage to keep you informed of factors and developments affecting prices in the Crude oil marketplace.
Price Reporting – More information about the price reports we publish on Crude oil
Independent price assessments and market coverage by region
Price History – More information about the historical price data we publish on Crude oil
Track historical price data
News & analysis
News & Analysis - News & market analysis specifically relating to Crude oil
Breaking news of latest developments affecting the markets.
Insight and analysis of factors driving prices.
Crude oil: Market overview
Given the volatility surrounding crude prices, we are not currently producing a Global Market Overview. Instead we have a series of recent ICIS articles reviewing the present position and the impact on petrochemical markets…
News & analysis
Crude oil news & analysis
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Crude oil, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.
Crude Oil Methodology
World Crude Methodology
Crude Oil China Methodology
About Crude oil
Crude oil is the building block of the petroleum and petrochemical industries. It is found all over the world, produced from small onshore fields in the US Midwest through deepwater offshore oil rigs in the North Sea and the Gulf of Mexico to the massive oil reserves of Saudi Arabia.
As well as the size of the field, the quality of the crude oil itself can vary greatly. Some Venezuelan grades are extremely heavy, whereas some of those found off the northwest coast of Australia are very light. The sulphur content of the crudes can also vary from low sulphur Nigerian grades to medium and high sulphur grades from the Arabian Gulf. Many of the new fields discovered in the North Sea and offshore West Africa have thrown in an extra problem with high acidity.
However, in the end, all crude will pass through a refinery to be turned into gasoline and diesel for our cars and trucks, heating oil for our homes and offices and naphtha for petrochemical feedstock, as well as many other products.