Crude oil is a naturally occurring liquid fossil fuel extracted from underground reservoirs. It serves as the raw material for refining into fuels, lubricants, bitumen, and petrochemicals.
WTI is a light, sweet crude oil sourced primarily from oil fields in Texas and surrounding U.S. regions. It is one of the world’s most important benchmark crude oils for pricing and trading.
Export Blend Crude is a general term for a blended crude oil specifically formulated for international export. The blend usually combines various domestic crude streams to meet desired export quality standards (API gravity, sulfur, etc.).
Light Crude Oil (LCO) is a low-density, low-viscosity crude oil with high API gravity (above 31°) and low sulfur content (often called "sweet"). It’s one of the most desirable crude types for refining.
