CRUDE OIL IMPORT COSTS AND SPOT PRICES

摘要

Spot prices are the main references used to set a price to an economic transaction involving the purchase of a commodity, such as crude oil or oil products. It is defined as the selling price for immediate rather than forward delivery in a given location. Spot prices are the underlying variable in most pricing arrangements for crude oil trade. However, the actual prices paid for imports differ from spot prices due to crude quality considerations, transport and economies of scale, among other factors. The crude oil import costs presented in Part I are the effective import cost paid in a country per barrel of oil imported.