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Home > Oil Gas Investments > Light Crude > Importance of Light Sweet Crude Oil
Importance of Light Sweet Crude Oil
Light crude oil is the most popular source of energy utilized in the whole world, and it is also the most exciting and recognized commodity in financial markets today. This product has a very important impact on the markets, and it is especially influenced by political factors, currency movements, global inflation and supply considerations. Therefore, the cost of this oil provides excellent opportunities for investors due to its volatile nature. Another advantage of light sweet crude is that has low sulfur content making it the favorite for refiners. Products based on this type of oil – diesel fuel, gasoline, heating oil and jet fuel – have a high value.
One interesting fact about the black gold is that in 2002, the world produced on average more than 66 million barrels of crude per day. One of the main organizations that negotiate with oil companies on affairs of oil price, production, and future concession rights is the Organization of Petroleum Exporting Countries (OPEC). OPEC associates report approximately 40% of global supply, and they determine the limit production every month.
Therefore, sometimes, the countries of the OPEC must meet urgently when the world’s economy faces a critical situation and the oil prices, especially the light crude, affect production and consume in the other countries. Every time, there are abrupt changes in oil price. This is linked to other important economic activities which depend on energy and stability. Some specialists in this matter called it hydrocarbon economy due to its importance and the benefits of this important liquid that consists of a complex combination of various hydrocarbons.
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