Crude Oil

Crude oil is a naturally occurring petroleum product that can be refined for use in a wide variety of materials, such as gasoline, plastics, pharmaceuticals and other chemicals. Oil is a fossil fuel that occurs when dead organisms are heated and pressurised within the earth's surface and subsequently liquidised, absorbing impurities like sulfur from the ground, a process that takes millions of years. Oil is generally sold in barrels, which contain 42 US gallons. The world consumes more than 34 billion barrels of oil a year. (( Retrieved 5 March 2015.))

Oil Chart

Oil Reserves

Oil reserves are locations of proven, recoverable oil. Though extraction of oil from wells, fields and sand may differ in method, but reserves include potentially extracted oil. Currently, there is an estimated 1, 490 billion barrels of oil in reserve globally, across 80 countries:(( Retrieved 5 March 2015.))

Country Global Reserves (billions of barrels)
Venezuela 297.6
Saudi Arabia 267.9
Canada 173.1
Iran 154.6
Iraq 141.4
Kuwait 104.0
United Arab Emirates 97.8
Russia 80.0
Libya 48.0
Nigeria 37.2

Price of Oil

Pricing systems for oil have shifted over the years. Generally, benchmark crude is used to determine prices because crude oil come in many varieties and qualities, often referred to by color, light or dark, or by its sulpher content, sweet or sour.
The primary benchmarks for crude oil come from the West Texas Intermediate (WTI), Brent Bland and Dubai Crude. Around the world, Brent Bland is commonly used—pricing two-thirds of the world's oil. Dubai prices most of the oil in Persian Gulf territories. WTI is the common US benchmark. OPEC (Organisation of Petroleum Exporting Countries) prices an oil basket based on oils from multiple countries in its organisation.(( Retrieved 6 March 2015.))

Oil Futures

Oil futures can be purchased through exchanges, which buy and sell on current market price with delivery a month later.

Any opinions, news, research, analyses, prices, other information, or links to third-party sites are provided as general market commentary and do not constitute investment advice. Friedberg Direct will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.


Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, Friedberg Direct, FXCM or its affiliates takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of Friedberg Direct and FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the Friedberg Direct's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.**

Order Execution Only

Order Execution Only

Regulatory Documents:
IIROC Brochure: How Can I Get My Money Back, How IIROC Protects Investors, IIROC Complaints Brochure, CIPF Brochure, CIPF Coverage Policy, IIROC Order Execution Only Bulletin, Conflict Disclosure Statement

The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM's suite of products, while maintaining their accounts with a regulated Canadian firm. All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC). Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at