Russia is the world's second largest producer of
crude oil and also one of the world's top oil exporters. Russian
export blend crude oil (REBCO) is a medium gravity sour crude that
accounts for exports of approximately 4 million barrels per day
into the Atlantic Basin or to other nearby refining markets.
The New York Mercantile Exchange, Inc., the worlds largest energy
marketplace, has developed a proposed REBCO futures contract in
collaboration with Expertica Ltd.
The expected benefits of a REBCO futures contract are continuous
price discovery, market transparency, and financial protection
against the risk of counterparty default.
