petroleum

How Crude Oil is priced?

November 6, 2015

The collapse of the OPEC administered pricing system in 1986-1988 ushered in a new era in oil pricing in which the power to set oil prices shifted from OPEC to the so called “market”. This system was first adopted by the Mexican national oil company PEMEX in...

Crude Oil Pricing in pre-OPEC Era

November 6, 2015

The world oil prices were first administered by the large multinational oil companies in the 1950s and 1960s in the name of a 1927 Red Line agreement and one more such agreement.  At that time, the international oil industry outside the United States, Canada, the USSR and...

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