Oil for Euro, for dollars and dependence of the ruble on oil
Forecast - will the oil price rise
Oil price 2023
Oil price on the market. Crude oil is a widely used and actively traded commodity in the world. The market price is in dollars and they are traded on international exchanges. Instruments derived from the price of oil are also exhibited..
Dependence of the ruble on oil, oil grades have important differences. The main ones are - density and sulfur content, which can be important to buyers and sellers. New standards require that gasoline has a much lower sulfur percentage than crude oil.. Reducing the percentage of sulfur is a rather difficult task, and oil grades with as little sulfur as possible are more suitable for the production of gasoline and diesel fuel..
The lower the sulfur content of the oil, the more sweet it is.. Acidic oil is characterized by a high sulfur content..
A light, sweet crude is more expensive than a heavier and more acidic grade and requires less processing and is associated with lower costs and added value, such as gasoline, diesel and jet fuel. Heavier, more acidic crude oils are sold cheaper than lighter and sweeter oils because they require additional processing. Crude oil is used to produce gasoline, kerosene, liquefied gas, diesel fuel, lubricants, synthetic rubber, mineral fertilizers, etc..
Oil from Russia to 2023
Urals Crude Oil - mixture (blend of heavy and premium oil Urals, with light oil from Western Siberia, with a density API about 32 and sulfur content of about 1,2%), mined in Khanty-Mansi Autonomous Okrug, Bashkortostan and Tatarstan. The world s largest oil producers Urals - Rosneft, Lukoil, Gazprom Neft and Tatneft . Grade oil futures quotes Urals listed on the Russian Stock Exchange RTS. On New - York Mercantile Exchange NYMEX "Ural" traded under the ticker symbol RE, in US dollars per barrel. Largest consumers of Russian oil - Euro zone.
Oil WTI Light
West Texas Intermediate (WTI) otherwise known as Texas Light Sweet and comes from Texas and Mexico. This oil contains small amounts of sulfur and density. The sulfur content is about 0,24%and the density - 39,6 units and this oil is considered sweet and light oil. Refining of this oil in the regions of the Persian Gulf, as well as the United States - proximity to oil reserves. Light Sweet Crude Oil traded on NYMEX under the ticker CL. Oil brands WTI traded as futures and options on commodity exchanges.
Oil grade Dubai 03.2023
Dubai from the United Arab Emirates is one of the largest oil suppliers Dubai. Density of crude oil 31 units, sulfur content 2%
Brent in 2023 г
Brent got its name from the area of the same name on the shelves in the North Sea, which belongs to Great Britain. In this region, oil reserves have been significantly depleted and the supply to the nearest regions has slightly increased in price.. However, Brent s oil-is still the benchmark for oil and serves as a benchmark for the pricing of other grades, the price of which differs somewhat from them in the spread of prices for different grades of oil. And also Brent oil is a benchmark, as well as the possibility of including new grades. Up to two-thirds of the world s oil reserves in terms of price in relation to Brent Brent is called sweet oil, which contains 0,37% sulfur and 38 density units. Brent oil is actively used for processing into gasoline and diesel fuel.
Brent traded on electronic Intercontinental Exchange (ICE) under the ticker LCO in US dollars.
Though Brent considered light oil, it is not that easy as WTI.
OPEC Basket 26.03.2023
The OPEC Basket Oil comes from Bonny Light (Nigeria), Arab countries (Saudi Arabia), Basra (Iraq), Algeria and Indonesia.
The main importers of oil are the USA, China, Japan, Germany. Among the main exporters - Saudi Arabia, Russia, Iran, United Arab Emirates.
Oil price today 26.03.2023
Two years ago, we felt the full impact of the fall in oil prices. For Russia, the low cost of oil is like natural disasters - destructive and unpredictable. And if so, then this is clearly not friendly with the prosperity of the country.. However, not all countries are affected by the fall in oil prices.. Quite the contrary, large oil importers are temporarily gaining incredible growth in terms of free and additional funds.. This means that there are many interests and many forces on the other side.. The United States is interested in low oil prices. As no one knows, there has never been enough money, and the United States is no exception, in which an item of expenditure on the army, social spending and other budget items, a huge internal and external debt is simply inflated to unprecedented proportions.. And then one a sharp drop in oil multibillion-dollar problems are being solved, because there would be money, but America knows how to act, in contrast to the clumsy developing countries.
Cons of the low oil price for the United States
However, not everything is going smoothly for the United States either.. Low oil prices they literally tie hand and foot the developers of shale oil production in this country, which is absolutely unthinkable to extract at such prices. However, during the period of high oil prices, many shale oil fields were nevertheless successfully developed. falling oil prices WTI. But global oil consumption is only increasing. Alternative energy sources from Europe are still expensive and make up a small percentage.
The pressure of low oil prices on Russia in 2023 г
Everything is exactly the opposite for the comfort of the Russian budget. Falling oil prices WTI can seriously drain the body of the Russian economy. The sale of energy resources replenishes the Russian budget by more than half a year. Just calculate what the country will miss if the oil price falls by 5 dollars. Russia does not benefit from oil price volatility. Low oil price WTI accompanied by a fall in the ruble, overstatement of interest rates in order to contain inflation. Living standards of the population and purchasing power are falling. Imported goods are becoming too expensive, and among them are important goods for the development of the country and its stability.
Oil for Euro per 2023
Oil price today 03.2023
