A study of the relationship between spot product prices and spot crude prices

Working paper

This paper is an investigation into the relation between crude oil prices and the prices of the products made from refining crude oil. Commentators on the oil market often focus on a measure of the difference between the “value” of the oil once converted into products and the cost of the crude oil itself. There has been very little published work on the nature and behaviour of this margin and the first part of the study is addressed to the problem of measuring and summarising its behaviour.

Authors: Bacon, R

• Publication status: Published
• Peer review status: Reviewed (other)
• Publisher: Oxford Institute for Energy Studies
• Series: OIES paper
• Publication date: 1984-01-01
• Edition: Publisher's version
• Paper number: M5
• ISBN: 0948061057
• Language: English
• Keywords: OIES; normal margin model; Arabian Light; oil prices; dpot prices; crude prices; product values; product prices; Nigerian Light; netback; margin