Crude oil includes natural crude oil and artificial crude oil: natural crude oil refers to crude oil extracted from production wells in oil (gas) fields, crude oil collected by other means such as abandoned wells, wells not delivered to production units or wells without production conditions, and also includes condensate oil extracted from natural gas fields; Artificial crude oil refers to the crude oil obtained by dry distillation of oil shale.
Light oil and heavy oil recovered from dry distillation gas, and crude oil refined by coal dry distillation or hydrofining of bituminous coal at low temperature; Crude oil synthesized from natural gas and crude oil extracted from peat, peat, pine root and birch bark.
It does not include high-temperature tar recovered from mechanized coke ovens, simple coke ovens and mechanized gas producers (high-temperature tar contains more chemical raw materials, and the main chemical products after processing are benzene, phenol, naphthalene and anthracene). At present, only the artificial crude oil extracted from oil shale is counted.
The Influence of Crude Oil Futures on Oil Price
The supply factors that affect oil prices mainly include world oil reserves, oil supply structure and oil production cost. As a kind of non-renewable energy, the production cost of crude oil will affect the intertemporal production allocation decision of producers, thus affecting the market supply and indirectly causing oil price fluctuations.
Short-term factors cannot be ignored. Short-term factors affect oil prices by affecting the relationship between supply and demand in a short time or changing users' expectations of this relationship. Crude oil futures not only have general commodity attributes, but also have strategic material attributes, and its price and supply are greatly affected by the world situation.
In addition, the price of crude oil directly affects the profits of oil exploration enterprises. At the same time, it is also related to the production costs of oil refining enterprises and downstream petrochemical enterprises. Therefore, the impact of crude oil futures on oil prices is multifaceted.