Wendy Zellner

Supply is ahead of demand — but falling prices probably won’t last long.

All crude oil is not created equal. No one knows that better than the world’s refiners. The markets generally track a type of oil referred to as “light, sweet” crude. But while this fast-flowing, low-sulfur variety is in tight supply and goes for roughly $50 a barrel, there’s a veritable ocean of thicker, lower-quality crude being pumped out by Saudi Arabia, Mexico, and others that currently sells for as little as $35 a barrel.