Energy Market Glossary
Searchable definitions for commonly used oil, refining, logistics, and market terms.
A density scale commonly used to compare crude oils.
A market structure where near-term prices are above later-dated prices.
A standard oil-market volume equal to 42 U.S. gallons.
A reference crude or price used to compare other grades and transactions.
A widely followed benchmark associated with North Sea crude streams.
A market structure where later-dated prices are above near-term prices.
A simplified measure comparing crude input cost with refined-product values.
A refining process that separates components by boiling range.
Refining, distribution, and marketing activities.
A material used as an input to an industrial process.
Oil or products stored for operational, commercial, or strategic use.
The operating cost of producing oil from an existing project.
Transportation, storage, and related infrastructure.
An intergovernmental organization of oil-exporting countries.
The volume of crude processed by refineries over a period.
Production capacity that can be brought online within a defined timeframe.
Government-controlled petroleum stocks for supply emergencies.
Exploration and production activities.
A widely followed U.S. crude oil benchmark.
The share of different products produced from a refinery input.