Arab Medium
Arab Medium Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-17 | $83 | 608 | 618 | 1.98 |
| 2023-02-16 | $85 | 623 | 633 | 2.02 |
| 2023-02-15 | $84 | 616 | 626 | 2 |
| 2023-02-14 | $85 | 626 | 637 | 2.03 |
| 2023-02-13 | $85 | 620 | 630 | 2.01 |
| 2023-02-10 | $83 | 608 | 618 | 1.98 |
| 2023-02-09 | $84 | 614 | 624 | 1.99 |
| 2023-02-08 | $82 | 602 | 612 | 1.96 |
| 2023-02-07 | $81 | 590 | 600 | 1.92 |
| 2023-02-06 | $78 | 573 | 582 | 1.86 |
| 2023-02-03 | $80 | 590 | 599 | 1.92 |
| 2023-02-02 | $81 | 596 | 606 | 1.94 |
| 2023-02-01 | $83 | 610 | 620 | 1.98 |
| 2023-01-31 | $82 | 604 | 614 | 1.96 |
| 2023-01-30 | $84 | 617 | 627 | 2 |
| 2023-01-27 | $86 | 627 | 637 | 2.04 |
| 2023-01-26 | $85 | 620 | 630 | 2.01 |
| 2023-01-25 | $85 | 621 | 631 | 2.02 |
| 2023-01-24 | $86 | 630 | 641 | 2.05 |
| 2023-01-23 | $86 | 629 | 639 | 2.04 |
| 2023-01-20 | $85 | 622 | 632 | 2.02 |
| 2023-01-19 | $82 | 604 | 614 | 1.96 |
| 2023-01-18 | $85 | 625 | 635 | 2.03 |
| 2023-01-17 | $83 | 610 | 620 | 1.98 |
| 2023-01-16 | $82 | 604 | 614 | 1.96 |
| 2023-01-13 | $81 | 597 | 606 | 1.94 |
| 2023-01-12 | $80 | 589 | 599 | 1.91 |
| 2023-01-11 | $77 | 566 | 575 | 1.84 |
| 2023-01-10 | $77 | 566 | 575 | 1.84 |
| 2023-01-06 | $76 | 560 | 569 | 1.82 |
Arab Medium Historical price
- In 2019 maximum price $69 per bbl (2019-12-26)
- In 2020 maximum price $51 per bbl (2020-12-25)
- In 2021 maximum price $77 per bbl (2021-12-24)
- In 2022 maximum price $82 per bbl (2022-12-26)
- In 2023 maximum price $83 per bbl (2023-02-17)
Arab Medium Crude Oil: Understanding its Significance in the Global Energy Market
Arab Medium crude oil is a type of crude oil that is widely used in the production of petroleum products across the world. It is derived from the oil fields located in the Middle East and North Africa region, specifically from the countries of Algeria, Iraq, Iran, Kuwait, and Saudi Arabia. The Arab Medium crude oil is known for its high quality, which makes it an ideal choice for refineries to produce a variety of petroleum products such as gasoline, diesel, and jet fuel.
Characteristics of Arab Medium Crude Oil
Arab Medium crude oil is characterized by its high API gravity, low sulfur content, and low wax content. These characteristics make it an attractive option for refining, as the production of high-quality petroleum products requires crude oil with low sulfur and wax content. Additionally, the high API gravity of Arab Medium crude oil indicates that it is a light crude oil, which is easier to refine and produce high-quality products.
Importance of Arab Medium Crude Oil in the Global Energy Market
The significance of Arab Medium crude oil in the global energy market lies in its contribution to the production of petroleum products. The demand for petroleum products such as gasoline, diesel, and jet fuel continues to increase globally, and the use of Arab Medium crude oil in the production of these products has played a critical role in meeting this demand. The abundance of Arab Medium crude oil in the Middle East and North Africa region has also made it a crucial source of revenue for the countries in this region, providing them with the resources to invest in their economies and infrastructure.
Impact of Arab Medium Crude Oil on the Global Economy
The production and export of Arab Medium crude oil has had a significant impact on the global economy. As the demand for petroleum products continues to increase, the price of crude oil and the associated petroleum products also tends to rise. This directly affects the economies of countries that depend on the export of crude oil for their revenue, as well as the economies of countries that import crude oil for their domestic consumption. Additionally, the volatility in the price of crude oil can also have a significant impact on the global economy, affecting inflation and interest rates, and potentially leading to economic recessions.
Future of Arab Medium Crude Oil in the Global Energy Market
The future of Arab Medium crude oil in the global energy market remains uncertain, as the world continues to shift towards renewable energy sources such as solar, wind, and hydropower. The increasing demand for alternative energy sources could potentially reduce the demand for petroleum products, which would have a direct impact on the production and export of Arab Medium crude oil. However, the transition to renewable energy sources is likely to be a gradual process, and the demand for crude oil and petroleum products is expected to remain high in the short to medium term.
In conclusion, Arab Medium crude oil continues to play a crucial role in the global energy market, providing a significant source of revenue for the countries in the Middle East and North Africa region, and contributing to the production of petroleum products that are in high demand across the world. Understanding the characteristics, importance, impact, and future of Arab Medium crude oil is essential for anyone interested in the global energy market and the global economy.
Frequently Asked Questions about Arab Medium Crude Oil
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What is Arab Medium crude oil? Arab Medium crude oil is a type of crude oil that is derived from oil fields in the Middle East and North Africa region. It is known for its high quality, with a high API gravity, low sulfur content, and low wax content.
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What makes Arab Medium crude oil different from other types of crude oil? Arab Medium crude oil is characterized by its high API gravity, low sulfur content, and low wax content, making it an ideal choice for refining into high-quality petroleum products such as gasoline, diesel, and jet fuel.
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Why is Arab Medium crude oil important in the global energy market? Arab Medium crude oil is important in the global energy market because it contributes to the production of petroleum products that are in high demand globally. It is also a crucial source of revenue for the countries in the Middle East and North Africa region.
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How does the production and export of Arab Medium crude oil impact the global economy? The production and export of Arab Medium crude oil can have a significant impact on the global economy. The price of crude oil and petroleum products tends to rise with increasing demand, affecting the economies of both exporting and importing countries. Additionally, the volatility in the price of crude oil can also have a significant impact on the global economy.
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What is the future of Arab Medium crude oil in the global energy market? The future of Arab Medium crude oil in the global energy market remains uncertain, as the world continues to shift towards renewable energy sources. However, the demand for crude oil and petroleum products is expected to remain high in the short to medium term, making Arab Medium crude oil a crucial component of the global energy market for the foreseeable future.
In conclusion, Arab Medium crude oil plays a vital role in the global energy market, and understanding its characteristics, importance, impact, and future is essential for anyone interested in the industry.
References
The information in this article has been compiled from the following sources:
These sources provide a wealth of information on crude oil and the energy industry, including data on production, consumption, trade, and prices. By exploring these resources, you can gain a deeper understanding of the role that Arab Medium crude oil plays in the global energy market.
This article was written to provide an overview of Arab Medium crude oil and its importance in the global energy market. The information contained in this article is for informational purposes only and should not be used as a substitute for professional advice and expertise.
