Oil WTI – Weekly Chart
Oil WTI – Yearly Chart
About Oil WTI
- West Texas Intermediate is sourced from U.S. oil fields, primarily in Texas, Louisiana, and North Dakota. Considered to be ‘sweet’ crude with lower sulphur content than Brent Oil. (Source Investopedia,2019)
- The relevant crude oil for Australia is Tapis and Brent.
- There are over 300 crude oil fields in Australia. However, 80 per cent of crude oil production comes from seven major fields.
- Around 70 per cent of Australia’s oil production is from the Carnarvon basin off the coast of Western Australia.
- Around 18 per cent of Australia’s refinery input is sourced from domestic crude oil production, the remainder is imported.(Source; Dept of IIS, 2019)