Oil index is also called crude oil index. The international crude oil index is based on light and low sulfur crude oil futures contracts. When the contract becomes the main contract, the price of the international crude oil index is the contract price. International crude oil trading can be divided into three markets: North America, Europe and Asia, among which West Texas light crude oil is the best crude oil futures. In addition, the isomorphism of Brent crude oil in the North Sea and Dubai crude oil in the Middle East has become an international oil price indicator.

Brief introduction of crude oil

Crude oil refers to oil that has just been mined without any treatment. Crude oil is generally dark brown with fluorescence. At the same time, crude oil will have obvious smell. In China, Shen Kuo in Song Dynasty discovered the unique value of oil and predicted the future crude oil market. From 65438 to 0867, countries around the world began to use oil, and the market share of a large number of coal fuels continued to decline.