A thermodynamic liquid model has been developed to describe the behavior of asphalt and asphaltenes in reservoir crudes upon changes in pressure, temperature, or composition. Asphaltene solubility properties used as input to the model may be obtained from titration experiments on tank oil. High-pressure flocculation experiments confirm the potential of the model. The model appears to be well applicable to conditions at which asphaltenes are associated with resins. The model may be used to identify field conditions where asphalt or asphaltene precipitation will occur.