Crossroads: Past, Present and Future of Brent

Adi Imsirovic ()
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Adi Imsirovic: Oxford Institute for Energy Studies

Chapter Chapter 9 in Brent Crude Oil, 2023, pp 129-134 from Springer

Abstract: Abstract Brent may well be becoming terribly complex, but the Brent market naturally evolved over time, and its complexity and even some redundancies are natural features, not dissimilar from the features of the human body—they are not always pretty or perfect, but they work well. The inclusion of WTI in the Brent contract is a step in the right direction. If executed carefully, it should not only massively increase the volume of oil underpinning the contract, but it should also bring the mighty WTI benchmark closer to Brent. As the US production continues to grow in foreseeable future, supplying the whole world without destination and other restrictions, the inclusion of WTI is a long-term solution for the Brent benchmark.

Keywords: Brent; Complexity; Market instruments; WTI midland; Benchmarks (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-28232-4_9

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