Q53. The term ‘West Texas Intermediate’, sometimes found in the news, refers to a grade of
(a) Crude oil
(b) Bullion
(c) Rare earth elements
(d) Uranium
Answer: A
- Option (a) is correct: West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. WTI is described as light crude oil because of its relatively low density, and sweet because of its low sulfur content. It is sourced from US oil fields, primarily in Texas, Louisiana, and North Dakota
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