Crude oil is sold as bulk cargo of thousands of barrels.it is not stored in barrels.The buyer will arrange for Tanker.So there is no question of the price of barrel.Barrel is an indicative for the unit volume.
When you buy a toothpaste the price for the tube is enclosed. However, when you buy 100,000 barrels of oil you also have to buy the oil tanker which delivers the oil.
Crude oil is not sold loose like ml, litres or gallons. Its sold in bulk so it is calculated per barrel which is standard UOM. When you buy a tooth paste, do you pay separately for the paste & tube ? You call it a relevant question ?
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Knor just called to say that Rizks charges extra for the cup when selling a Karak .. So there goes my theory :0(
I love this post :0)
Crude oil is sold as bulk cargo of thousands of barrels.it is not stored in barrels.The buyer will arrange for Tanker.So there is no question of the price of barrel.Barrel is an indicative for the unit volume.
an empty barrel with one side opened is sold for 90$
a barrel of crude oil sold for 30$
the barrel is measurement unit only , which is estimated and crude oil sold in bulk and transferred by large oil ships or tubes.
its measured by rate of flow in a tube (cylinder) per time unit.
WT ......... You can hire the tankers my friend ......... Give the transport section to a contractor ............ save huge money .........
When you buy a toothpaste the price for the tube is enclosed. However, when you buy 100,000 barrels of oil you also have to buy the oil tanker which delivers the oil.
This is a very good question. When you buy a gun , you pay for the barrel as well. So it reasons that the price includes the barrel.
Crude oil is not sold loose like ml, litres or gallons. Its sold in bulk so it is calculated per barrel which is standard UOM. When you buy a tooth paste, do you pay separately for the paste & tube ? You call it a relevant question ?