The crude oil index actually refers to the API degree of petroleum, which is the evaluation index of petroleum and petroleum products in API gravity. For an oil, the higher the API degree of the oil, the higher the quality of the oil. The best quality crude oil in all markets in the world is WTI crude oil from the United States, which is also the pricing standard of all crude oils in the world, while the other standard crude oils in the world are Bulun crude oil from the North Sea and Dubai crude oil from the Middle East.

What is crude oil?

Crude oil is crude oil. Since the 20th century, due to the rapid development of machinery industry, the demand and trade of petroleum crude oil have also started to develop rapidly. Since World War II, the oil held by the United States has been close to two-thirds of the world's oil. At the same time, the reality of the United States has also begun to expand. Therefore, the development and utilization of petroleum resources is becoming more and more important in national development. In the economic market, crude oil futures trading is also a very important part of futures trading.