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Crossroads: Past, Present and Future of Brent

In: Brent Crude Oil

Author

Listed:
  • Adi Imsirovic

    (Oxford Institute for Energy Studies)

Abstract

Brent may well be becoming terribly complex, but the Brent market naturally evolved over time, and its complexity and even some redundancies are natural features, not dissimilar from the features of the human body—they are not always pretty or perfect, but they work well. The inclusion of WTI in the Brent contract is a step in the right direction. If executed carefully, it should not only massively increase the volume of oil underpinning the contract, but it should also bring the mighty WTI benchmark closer to Brent. As the US production continues to grow in foreseeable future, supplying the whole world without destination and other restrictions, the inclusion of WTI is a long-term solution for the Brent benchmark.

Suggested Citation

  • Adi Imsirovic, 2023. "Crossroads: Past, Present and Future of Brent," Springer Books, in: Adi Imsirovic (ed.), Brent Crude Oil, chapter 0, pages 129-134, Springer.
  • Handle: RePEc:spr:sprchp:978-3-031-28232-4_9
    DOI: 10.1007/978-3-031-28232-4_9
    as

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