Crude Oil Price Differentials and Differences in Oil Qualities : A Statistical Analysis

This report updates and extends previous work by a statistical analysis of the relationship between crude price differentials and three quality differentials, as well as transport costs and seasonal effects. In addition to the API (American Petroleum Institute) gravity number and the sulfur content of the crudes, which are the qualities generally included in existing analysis, the report presents the impact of acidity (measured by the Total Acid Number - TAN) on the price differential. This is because acidity has become increasingly important as the volume of high acid crudes, particularly from West Africa, has steadily increased in recent years.

Bibliographic Details

Main Authors:	Bacon, Robert, Tordo, Silvana
Format:	ESMAP Paper biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2005-10
Subjects:	AVERAGE PRICE, AVERAGE PRICES, BARREL, CAPACITY UTILIZATION, CRUDE IMPORTS, CRUDE MARKETS, CRUDE OIL, CRUDE OIL MARKET, CRUDE OIL PRICE, CRUDE OIL PRICES, CRUDE OIL PRICING, CRUDE OILS, CRUDE PRICE, CRUDE PRICES, DEMAND FUNCTION, DISTILLATION, ENERGY MARKETS, ENERGY PLANNERS, EXPENDITURE, FORWARD PRICE, FORWARD PRICES, FOSSIL FUELS, FUEL, GASOLINE, GLOBAL OIL PRODUCTION, HEAVY CRUDE, HYDROCARBONS, HYDROGEN SULFIDE, IMPORT, INTERNATIONAL MARKET, MARKET CONDITIONS, MARKET DEVELOPMENT, MARKET DEVELOPMENTS, MARKET TRENDS, MILLION BARRELS, MONTHLY AVERAGE PRICES, OIL AND GAS, OIL IMPORTS, OIL INDUSTRY, OIL PRICE LEVEL, OIL PRICING, OIL PRODUCTION, OIL REVENUES, OIL TRADERS, OPEC, PETROLEUM, PETROLEUM PRODUCTS, POLLUTION, PRICE, PRICE ADJUSTMENTS, PRICE FORECAST, PRICE INCREASES, PRICE LEVEL, PRICE LEVELS, PRICE OF OIL, PRICE VOLATILITY, PRICES OF CRUDES, REFINERIES, REFINERY, REFINING, REGRESSION ANALYSIS, SALE, SEASONAL VARIATION, SPOT PRICES, SPREAD, STREAM, SULFUR, SULFUR COMPOUNDS, SULFUR CONTENT, WEST EUROPE, WORLD MARKET,
Online Access:	http://documents.worldbank.org/curated/en/2005/10/6544056/crude-oil-price-differentials-differences-oil-qualities-statistical-analysis http://hdl.handle.net/10986/18006
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