# 3ABCDEFGHIJKLMNOPQRSTUVWYZ

Netback

A method of calculating the price of crude oil at the point of loading using the price of the refined oil products that are derived from it. All the costs of getting the crude to the market, such as shipment and refining costs, are subtracted from the total revenues from the sale of the oil products. The net figure thus produced is the netback price of the crude.