1), the European crude oil in Europe, North Sea Brent crude oil market earlier and more perfect, both Brent crude oil spot market, there are futures markets. More mature market growth in the region, the British North Sea light crude oil Brent. Crude oil has been trading in the region and the region's benchmark crude oil exports, which are basically light trading Brent crude oil prices. The areas include: North-West Europe, North Sea, the Mediterranean, Africa and some Middle Eastern countries such as Yemen. Its main trading for the IPE exchange trading, price changes all the time, turnover is very active; In addition, other OTC derivatives.

Brent crude oil spot price can be divided into two types: current spot price of Brent (Dated Brent) Brent spot and forward prices (15day brent). The former is within the specified period of time specified in the price of cargo; the latter for a specified delivery month, but the specific cargo delivery time undetermined price, the specific time of delivery to be at least 15 days in advance by the seller notified the buyer.

2), North American crude oil

European crude oil markets, crude oil market the U.S. and Canada have also been more mature. Its main trading for the NYMEX exchange trading, price changes all the time, turnover is very active; In addition, over the counter. In the area of trade or exports to the region some of the main reference price of crude oil West Texas Intermediate U.S. based oil WTI (West Texas Intermedium), such as the eastern United States and the Gulf of Mexico, Ecuador exports of crude oil, Saudi Arabia's Arab Light oil exports to the U.S., the Arab Oil, heavy oil and Berry Arab super light oil.

3), Middle East crude oil are mainly exported to North America, the Middle East, Western Europe and the Far East. The benchmark price of crude oil in the light of generally depends on its oil export market. Middle East oil exports of oil pricing is divided into two categories: one is linked to its oil pricing benchmark. The other is exporting its own published price index, oil industry as "the official sales price index" ("official price", OSP). Oman Oil and Mineral Resources announced the crude oil price index for the MPM, Qatar Petroleum announced the price index for the QGPC (including onshore and offshore crude oil prices, Qatar), Abu Dhabi National Oil Company for the ADNOC price index (including the Charles Hunt Oil , DOWN Queensland oil, Moore class of oil, Umm Scherf oil), the price index published once a month, both retroactive price. QGPC and ADNOC MPM index price index to determine the basic reference. Official price index in 1986 to abandon the fixed price after OPEC appeared; the current Asian market, many oil prices linked to spot trading and the OSP. Pricing mechanism from the OSP can be seen by all three price indices greater impact on the host government, including the government to determine market trends and the corresponding countermeasures.

Frame of reference pricing of oil in the Middle East countries also distinguish between different markets. In general, for the export of crude oil in North America, by reference to the U.S. West Texas Intermediate oil price, crude oil for export to Europe by reference to the North Sea Brent crude oil prices, crude oil for export by reference to the Far East, Oman and Dubai crude oil pricing . In addition, there are some countries in the light of the choice of crude oil, all the crude oil market, only a reference, but for different markets will choose different premiums and discounts. Kuwait's crude oil exports of the three markets, the reference price of crude oil are in the nature of Arab oil, but the quality of Arab oil in the premiums and discounts are different.

4), except in Asia Pacific Oil Platts, Petroleum Argus quoted prices, the Asian Petroleum Price Index (APPI), Indonesia's crude oil price index (ICP), OSP index, and nearly two years developed the Far East Oil Price Index ( FEOP) price of crude oil to countries also have an important impact. Long-term sales contracts of crude oil pricing is divided into two categories: one in Indonesia, a crude oil price index in Indonesia or Asia-based oil-price index, plus or minus adjustment of prices; other crude oil in Malaysia Tapestry Asian oil price index based adjustment of plus or minus the price. Such as Vietnam's White Tiger oil, the pricing formula for crude oil in Asia and India Niemi NASDAQ price index of crude oil price plus or minus adjustments. Australia and Papua New Guinea exports of crude oil, the pricing formula Zeyi Malaysia Tapestry crude oil price index based in Asia. China's exports of Daqing crude oil pricing crude oil and Nasdaq Niemi Zeyi India Indonesia Cinta crude oil price index and the average of the Asian oil price index is based. China National Offshore Oil Corporation, Asian oil exports of crude oil reference price index only, also refer to OSP price index.