Paper crude oil is a kind of personal certificate-type crude oil. Investors buy and sell "virtual" crude oil on the book according to bank quotations. Individuals operate by grasping the trend of international oil prices and earn the fluctuation difference of crude oil prices.

The paper crude oil will be priced in US dollars, and the investment targets are single-month and bi-month contracts in the WTI crude oil futures and Brent crude oil futures markets. However, like paper gold and paper silver, physical delivery is not possible and can only be settled in cash.

In addition, paper crude oil can only be bought up, and it is a full transaction, so the capital utilization rate is low.

Spot crude oil is a product that can be traded in both directions. It can be bought up or down, bought and sold in real time, and it is a margin transaction, with high capital utilization.