Topical issues of the oil pricing system transformation in the context of uncertainty increase in the World Energy Market
UDC: 339.146
DOI: 10.33285/1999-6942-2022-12(216)-5-13
Authors:
KATYUKHA PAVEL B.
1
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
Keywords: global oil pricing system, oil price evolution, price indicators, price benchmarks, commodity exchanges, price agencies, Brent benchmarks, WTI benchmarks, Dubai benchmarks
Annotation:
The article analyzes the current problems of the transformation of the global oil pricing system, which began as a result of the shale revolution in the United States and was the trigger for the start of fundamental changes in the structure of oil pricing in the global energy market. The author of the article shows the evolution of the main benchmarks for Brent, WTI, Dubai oil, the relationship between spot and futures segments of the oil commodity market in the context of the benchmarks formation accepted by the market as price indicators. In conditions of growing uncertainty in the oil commodity market and increased competition between the main market participants, the need for the formation of transparent price indicators that will form independent pricing for energy resources in the future is growing.
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