CHAPTER 7
Crude Oil Markets and Production
Over the past two decades, the crude markets have evolved significantly. No longer are the participants limited to the varied oil, gas, and other energy companies in the energy value chain. This chapter reviews some of the crude oil market participants that today include pension funds, hedge funds, global banks, and a myriad of other commodity trading organizations. The complexity has increased with financial institutions entering the arena that energy producers once dominated. This chapter also reviews the sometimes-volatile nature of the crude oil markets and the dynamics of its market pricing.
