Crude Oil Quality
To the novice, crude oil differences may not appear to be wide and varied. However, crude oils are not created equal. While the chemical differences are complex, we will examine a few key differences among crude oils and their manifestation in pricing. Suffice it to say that a basic understanding of cost structures related to production is equally important in assessing investment opportunities.
Crude quality is driven by the location, depth, and many geological factors affecting a given crude oil. In other words, crude oils found in the North Sea are very different from crudes found in Venezuela's Orinoco Belt or Canada's oil sands. The chemistry and geology of crude oils are beyond the scope of this book, but suffice it to ...
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