The medium sour crude oil has been chosen for the following 

reasons: (1) reserves of this type of petroleum is relatively 

abundant and accounts for about 44% of global oil production; (2) 

Due to geographical dierences in production and consumption 

of medium sour crude compared with light sweet crude, their 

respective market supply and demand dynamics also dier.

Currently there is still not a global benchmark market price for 

medium sour crude; and (3) It is the primary crude stream

imported by China and its neighboring countries. The creation of 

a benchmark for medium sour crude oil may benet and enhance 

oil trade in Asia Paciflc Region.

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