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Oil Methodology and Specifications

Clearly defined and transparent methodologies are the backbone of Platts’ price assessment processes. Platts’ methodologies provide detailed descriptions and explanations of how we assess the market value of commodities so that customers and other interested parties understand those processes. In this section, we post documentation by commodity and region for all published price assessments and indices.

Americas Refined Oil Products

Published July 2014

Americas Refined Oil Products Methodology

The Americas Refined Oil Products Guide contains the primary specifications and methodologies for Platts American Products assessments. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues.


Crude Oil Methodology

Published July 2014

Platts Crude Oil Methodology

The Crude Oil Guide contains the primary specifications and methodologies for Platts crude oil cargo and pipeline assessments throughout the world. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues.


Europe and Africa Refined Oil Products

Published July 2014

Europe and Africa Refined Oil Products Methodology

The Europe and Africa Refined Oil Products Guide contains the primary specifications and methodologies for Platts European Products assessments. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues.


Asia Pacific and Middle East Refined Oil Products

Published September 2014

Asia Pacific and Middle East Refined Oil Products Methodology

The Asia Pacific and Middle East Refined Oil Products Guide contains the primary specifications and methodologies for Platts Asia Products assessments. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues


Russian Domestic

Published August 2013

Russian Domestic Crude Oil Methodology

The Russian Domestic Market Guide contains the primary specifications and methodologies for Platts assessments of the Russian domestic market. The key price formation centers in Platts’ Russian domestic crude assessments are Moscow and Surgut, while in its products coverage assessments are made basis Ufa and Moscow. The various components of this guide are designed to give Platts subscribers as much information as possible about a wide range of methodology and specification issues.


Yields & Netbacks

Published August 2013

Yields & Netbacks

Platts Daily Yield is a crude oil yield and netback valuation system built on Platts’ daily refined product assessments for refined petroleum and petrochemical products, and refinery models constructed by Turner, Mason & Co., Dallas-based consulting engineers specializing in the global downstream petroleum business, using its Turner Mason Modeling System (TMMS).


World Gasoil and Jet Indexes

Published August 2013

World Gasoil and Jet Indexes

The Platts World Gasoil and Jet Indexes are a weighted average of Platts’ Gasoil and Jet assessments from global trading and supply centers. The weightings in the index represent a broad view of proportional demand from around the world.


Platts Forward Curve

Published March 2014

Platts Forward Curve Code list

Platts’ oil derivatives assessments reflect the value of swaps, or financially settled derivatives, in the over-the-counter markets at the close of trading in Asia, Europe and the US. These assessments, which reflect the value of swaps trading in bilateral markets, are published in Platts Forward Curve-Oil (PFC-Oil), a real-time information add-on to Platts’ real-time news service, Platts Global Alert. PFC Oil is the first globally comprehensive and independently-produced series of oil forward price curves.


Related Material

Bakken Crude Assessment: Frequently Asked Questions

(June 2014)


Oil Timing and Increment Guidelines

(January 2014)


Azeri Light FOB Crude Assessments: Frequently Asked Questions

(Janaury 2014)


Caribbean Freight Assessments: Frequently Asked Questions

(November 2013)


West African Crude: Frequently Asked Questions

(October 2013)


Platts Light Houston Sweet Assessment: Frequently Asked Questions

(July 2013)


Platts Light Houston Sweet Assessment: Rationale and Methodology

(July 2013)


Americas Bunker Assessments: Frequently Asked Questions

(October 2009)


MOPWIN as a Pricing Reference for India's Refined Oil Products

(June 2009)


Platts Americas proposes use of 3:15 pm Eastern Time futures values in its assessment process

(February 2009)


Specification details for 10ppm gasoil in Singapore

(November 2008)


The Forties de-escalator - Q&A

(September 2008)


Platts Rack Service Factsheet

(August 2008)


CIF NWE ULSD 10 ppm basis ARA Nov 1, 2007 assessment launch - Q&A

(Oct. 31, 2007)


Kadriah 1 - FAQs

(Aug. 31, 2007)


Question and Answer document on Forties crude oil guidelines

(July 2, 2007)


Dated Brent/Forties Crude Oil Quality Parameters - Question and Answer document

(June 14, 2007)


Chicago and Group 3 2007 RVP change schedule

(Dec. 21, 2006)


Explanation of the MOPS strip

(Sep. 27, 2006)


Platts Discussion Forum on Minas

(Sep. 4, 2006)


Japan/Korea Bunker Markets - Platts assessment methodology

(Aug. 30, 2006)


Platts testimony on world crude oil prices - presented to the US House of Representatives

(May 4, 2006)


Podcast: Platts Jorge Montepeque discusses our methodology in the context of current markets

(Feb. 13, 2006)


P-Plus WTI explained

(PDF)


Minas and Tapis Assessment Q&A

(PDF)


Explanatory BFO spreadsheets

(Powerpoint)


Review of the partial Dubai and Oman price discovery mechanism

(PDF)


Intra-day indicators for US Gulf Coast petrolem markets


Unscheduled NYMEX closure: Platts procedure


Mars assessment Q&A

(PDF)


Canadian spot crude assessment calculation

(PDF)


Jet fuel premium assessment and the new jet av fuel formula


Crude Oil Marketwire yield and netbacks table

(PDF)


All changes to specifications made between editions will be announced in Platts Oilgram Price Report (OPR), in the various Platts fax and telex services and in the real-time service Platts Global Alert(PGA).


If you have questions about Platts methodology, or suggestions about changing any of the timing, quality or other parameters listed in the Guide, please contact Platts editorial group.


If you would like details about or copies of older methodology and specification guides please contact John Kingston at John_Kingston@platts.com.
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