The Trading and Price Discovery of Oil Products

Liz Bossley ()
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Liz Bossley: Consilience Energy Advisory Group Ltd.

Chapter Chapter 19 in The Palgrave Handbook of International Energy Economics, 2022, pp 359-376 from Springer

Abstract: Abstract While crude oil is one of the biggest markets in the world the consumer has little interest in the raw material that comes out of the ground. It is the refined products that can be extracted from the crude oil that the end-user wants to know about. This chapter explains which hydrocarbons are mixed up inside a barrel of crude oil and how the refining process separates, treats and upgrades the composite to extract the usable products needed. It looks at whole crude properties and what these mean for handling and transporting the oil. It defines the different types of refinery processes, from primary distillation to reforming right through to cracking and coking. It describes the range of products that result from refining crude oil and the use to which each product is put.

Keywords: Oil products; Trading; Price discovery; Pricing; Refining (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-86884-0_19

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DOI: 10.1007/978-3-030-86884-0_19

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