I-Introduction.
II-The price structure in the international oil trade before World War II.
The prewar supply and price structure.
Rumanian export prices.
Exceptions to the pricing system.
Summary.
III-The price structure in the international oil trade after
I-The structure of world oil prices is intimately related to the pattern of competitive world oil supplies and demand, and any basic changes in the supply pattern are sooner or later reflected in the price structure.
II-In the past, when the United States was a major oil exporter, world oil prices were in general calculated on the basis of prices at the U.S. Gulf.
With some imDortant excentions, the delivered A.
B.
C.
D.
E.
F.
G.
H.
I.
J.. ~~ The present world oil export and import pattern.
The resulting present oil price structure.
Crude oil and product prices from the U.S.
Crude oil prices f.o.b. Caribbean.
Product prices f.o.b. Caribbean.
Crude oil prices f.o.b. Persian Gulf.
Crude oil prices f.o.b. Eastern Mediterranean.
The impact of the Trans-Arabian Pipeline on crude oil prices.
Refined Droduct Drices f.o.b. Persian Gulf. - .. price from any &urce of supply corresponded to the U.S. Gulf price plus transportation from the U.S.
Gulf.
III-At present, most of the oil moving in international trade originates in the Caribbean and the Middle East, with U.S. oil exports constituting only IV-The resulting present oil price structure is in some 10 per cent of the world's total.
Refined $roduct prices f.o.b. Eastern Mediterranean (Haifa).
K. Prices for Indonesian crude oil and products.
The likely future world oil export and import pattern.
The resulting future world oil price structure.
Upper and lower limits for f.o.b. Caribbean crude
Cru& oil prices f.o.b. Caribbean.
Fuel oil prices f.o.b. Caribbean.
Prices for other refined products f.o.b. Caribbean.
The Middle East crude oil price f.o.b. Eastern Medi-
The Middle East crude oil price f.o.b. Persian Gulf.
The Middle East crude oil price if pipeline capacity
The Midlle East refined roduct prices.
Prices for Indonesian, ruge oil and products.
Prices of refined products in Europe.
omy should isolate itself from the rest of the world.
General effect on price structure.
F.o.b. Caribbean prices.
F.o.b. Middle East oil prices and their relationship to Caribbean prices.
IV-The likely future world oil price structure. and roduct prices. terranean. is not ex anded.
V-The likely future oil price structure if the U.S. oil econ- VI-Conclusion. general as follows:
U.S. Gulf; at the U.S. Gulf price
Caribbean:
1-Crude oil for shipments to all destinaiions; at the U.S. Gulf price for comparable crudes minus a differential approximating the U.S. import tax.
