An average of all unbranded suppliers, denoted with a (u) in the display. Calculated for gross or net.
A supply arrangement with a supplier that is usually not contractual, and does not usually guarantee a specific amount of supply and involves product not marked by a proprietary branded additive package.
The largest category of tanker, generally holding at least 3.5 million barrels of product.
An OPEC country which is a confederation of small Arab States; of which, Dubai and Abu Dhabi are the principal oil producers.
Oil Represents the arithmetic difference between the calculated supply and the calculated disposition of crude oil. The calculated supply is the sum of crude oil production plus imports minus changes in crude oil stocks. The calculated disposition of crude oil is the sum of crude oil input to refineries, crude oil exports, crude oil burned as fuel, and crude oil losses.
Originally, this term applied to the periodic inspection and maintenance of an oil refinery. It now applies to any shutdown, slowdown or operational problem brought upon by refinery maintenance. Turnarounds are then said to be planned or unplanned.
Quantity of freight required to fill a truck. When used in connection with freight rates, the quantity of freight necessary to qualify a shipment for a truckload rate. Usually in excess of 10,000 pounds.
The weight of freight in tons transported by truck.
Futures-related or derivative instrument which allows a marketer to lock into a price relationship, but gives him the opportunity to set the absolute price at a later date. A supplier might sell a trigger deal to a heating oil marketer whereby the marketer is guaranteed product at 2cts/gal over the Dec. futures price for No. 2 oil. The marketer has until an agreed upon date to pull the trigger to set the absolute value of the transaction.
Also known as interface, the product removed from a pipeline system between two separate product batches that cannot be blended with the first or second product.