E3S Web Conf.
Volume 258, 2021Ural Environmental Science Forum “Sustainable Development of Industrial Region” (UESF-2021)
|Number of page(s)||9|
|Section||Environmental Planning and Economic|
|Published online||20 May 2021|
Transformation of the global oil pricing structure in the conditions of increasing competition of leading players in the oil market
1 Financial University under the Government of the Russian Federation, 49, Leningradsky prospect, 125993, Moscow, Russia
2 Moscow State University of Civil Engineering, 26, Yaroslavskoye Shosse, 109377, Moscow, Russia
* Corresponding author: firstname.lastname@example.org
The article proposed by the authors examines the competition between the world's leading producer countries in the context of changing the structure of global oil pricing. The global benchmarks for WTI, Brent and Dubai are the price benchmarks for all oil producing countries in the world, and all changes related to quality, production volumes and supply geography cause structural and institutional changes in the oil market. Crude oil plays an important role in the global economy not only as a commodity, but also as a financial instrument for the redistribution of income between the world’s largest financial players.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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