List of crude oil products

The delivery locations are usually sea ports close to the oil fields from which the crude was obtained (and new fields are constantly being explored), and the pricing is usually quoted based on FOB (free on board, without consideration of final delivery costs).

For WTI, the delivery point is Cushing, OK; for Brent, it is Sullom Voe, located in Shetland, an island archipelago north of mainland Scotland.

Although crude oil assays evaluate various chemical properties of the oil, the two most important properties determining a crude's value are its density (measured as API specific gravity) and its sulphur content (measured per mass).

Crude oil is considered "heavy" if it has long hydrocarbon chains, or "light" if it has short hydrocarbon chains: an API gravity of 34 or higher is "light", between 31 and 33 is "medium", and 30 or below is "heavy".

Crude is considered "sweet" if it is low in sulphur content (< 0.5%/weight), or "sour" if high (> 1.0%/weight).