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In addition, Arco's strategic planning group in Los Angeles, headed by Dr. Bob Gower, developed a long-range forecast calling for a decline in the price of crude oil. At the time Arco was in a bidding war with Chevron for Gulf Oil, but the crude oil price forecast made that acquisition look increasingly less favorable.
The WTI oil grade is also known as Texas light sweet. Oil produced from any location can be considered WTI if the oil meets the required qualifications. [2] Spot and futures prices of WTI are used as a benchmark in oil pricing. This grade is described as light crude oil because of its low density and sweet because of its low sulfur content.
LA Mississippi Sweet 40.7° 0.34% United States: Lavan Blend 34.2° 1.93% Iran: Lavan Island: Light Louisiana Sweet 35.6° 0.37% United States: St. James, Louisiana [7] Lion Crude 39.6° 0.18% Ivory Coast: Liuhua Liverpool Bay° 45° 0.21% United Kingdom: Liverpool Bay Platform Lloyd Blend: 20.9° 3.50% Canada: Lower Zakum 39.8° 1.02% ADNOC ...
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Colas noted that when WTI crude prices ranged between $80 and $100 per barrel between 2008 and 2014, XLE typically outperformed. Old rusted oil rig in a field in Galveston, Texas. (Getty Images ...
At recent market prices ($58 a barrel as of March 2021), [6] the SPR holds over $14.6 billion in sweet crude and approximately $18.3 billion in sour crude (assuming a $15/barrel discount for sulfur content). In 2012, the total value of the crude in the SPR was approximately $43.5 billion, while the price paid for the oil was $20.1 billion (an ...
Per the "Regions and crude types" discussion above, California production is categorized by its own crude type. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations.
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