The pricing of the international crude oil market is based on the standard oil in the world's major oil-producing areas. Among them, the three most influential benchmark crude oil prices are: WTI ("intermediate base crude oil" produced in West Texas, USA) crude oil futures of new york Crude Oil Futures Exchange; London International Petroleum Exchange (IPE) launched Brent crude oil futures; The high-sulfur "Dubai" crude oil in UAE is the famous oil price of the Organization of Petroleum Exporting Countries (OPEC).

Brent crude oil and WTI crude oil are very close in quality and price. Statistics of crude oil prices in the past 10 years show that the two are rising and falling synchronously, and the former is usually about 5% lower than the latter. Dubai crude oil will be about 30% cheaper than WTI and Brent crude oil.

Because the quality of crude oil produced in different places varies greatly, there are crude oil prices in some smaller oil-producing areas besides the three benchmark crude oil prices. The crude oil prices in Oman, Minas and Tapiz mentioned by the landlord.

Oman crude oil-produced in Oman, the quality is close to Dubai crude oil, and the crude oil price index is published by Oman Ministry of Petroleum and Minerals.

Minas minas- Sour crude oil from the United Arab Emirates, crude oil from oil-producing countries in the Middle East or crude oil sold from the Middle East to Asia, all take this as the pricing mechanism.

Tapiz TAPIS- Malaysian crude oil is a representative crude oil in Southeast Asia. It is a typical crude oil that represents the price of light crude oil in Southeast Asia, and most of the light crude oil in Southeast Asia is priced based on it. Its main trading method is spread trading with other standard oils.