Effective Crude Characterization Importance of Consistent Crude Yields
Each crude has a unique product yield pattern
Whole crude gravity and sulfur cannot always be used to predict yield patterns
Crude price is most sensitive to residua yield and sulfur level
Crude prices are typically compared with various marker crudes – e.g. WTI, Brent, Dubai
In addition to yield differences, the crude price is impacted by the market, quality discounts and freight