QUESTION 13 OF 30

How are crude oil prices determined?

Show the interviewer that you have a solid understanding of pricing in the oil and gas industry. Although you are likely not an oil trader, you should still have a good idea of how pricing works when it comes to crude oil, gasoline, and more. Of course, supply and demand is a factor but try to dig a bit deeper when you respond.

"I understand that market conditions, as well as supply and demand, are critical factors when it comes to pricing crude oil. Other important factors include consumer habits, terrorist activities and other global threats, environmental issues, and also the grade of the crude itself."

Community answers are written by other candidates practicing this set. Reading how others frame the same question is one of the fastest ways to sharpen your own.

Anonymous Answer

Crude oil prices are determined by economic issues, market conditions, global terroristic situations, and the demand for crude oil. Also, pricing is determined by the quality of crude oil.

Marcie's Feedback

How does the quality of crude oil affect its pricing? Can you talk more about this? What kinds of economic issues and market conditions impact the pricing? Provide more details to strengthen your answer and convey your deep understanding of this topic. Nice job!

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Marathon Petroleum Mock Interview

How are crude oil prices determined?

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30 Marathon Petroleum Interview Questions & Answers