ICIS is implementing a process for rolling consultation on all of its pricing methodologies. GMC 02/13 is part of this process and covers all of the ICIS primary price points included in the World Crude Report.

The consultation asked both general questions about the suitability of the ICIS methodology and questions addressing specific crude oil market issues.

Click here to download the World Crude Consultation

The consultation closed on 18 April 2013.

ICIS Initial Decision

There were no formal responses to consultation GMC 02/13. ICIS will not be proposing any immediate changes to the methodology of the World Crude Report. It will however, continue to consider changes to its methodology for West African grades as outlined in question 5 of the consultation paper. Any decision to change this methodology will be communicated to subscribers using the usual channels and with the usual notice period.

ICIS continues to welcome any feedback on its crude oil methodology outside of the formal consultation process.

To provide further comments or feedback please contact Louise Boddy or Tony Dillon: +44 2079111948 +44 2079111937

Consultation on this document closed on 18 April 2013