Isthmus-34 Light is a sour crude oil produced in Mexico mainly in the Campeche zone, in the Gulf of Mexico along with the extraction centers in Chiapas, Tabasco, and Veracruz. The name derives from the nearby Isthmus of Tehuantepec. Before 2017, the oil was a component of the OPEC Reference Basket (despite Mexico's not being a part of OPEC). It has the following characteristics:
>>>PUT SHARE BUTTONS HERE<<<
In this Dossier
Isthmus-34 Light in the context of Oil speculation
The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil, Isthmus, and Western Canadian Select (WCS). Oil prices are determined by global supply and demand, rather than any country's domestic production level.
Isthmus-34 Light in the context of Benchmark crude oil
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Western Canadian Select used in Canada, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition.
Benchmarks are used because there are many different varieties and grades of crude oil. Using benchmarks makes referencing types of oil easier for sellers and buyers.