The course discuss the concepts and systems of costing, pricing, and the various factors that affect crude oil pricing, including the different sources of price information. In addition to the various mechanisms in which crude oils are priced and how prices are set to allow the consideration of various important factors. The recent decline of oil price which has been resulted of Covid-19 will be highlighted and discussed as part of natural disaster influencing factors.

This course will provide the attendees with a comprehensive understanding and base knowledge of most common factors in oil pricing and the major factors of fluctuations focusing on global natural disasters effects, in addition to the basics concepts of supply and demand for crude oil. The attendees will explore physical oil markets, pricing formation and contracts and developing management of price risk and commercial aspects of the upstream oil business.