Trade Terms
Incoterms 2020 for Crude Oil and Refined Products
PetroIntermediation TeamTrade Terms
Six of Incoterms 2020 dominate oil:
- FOB — buyer takes risk at load port.
- FAS — alongside ship; rare in oil.
- CFR — seller pays freight, buyer arranges insurance.
- CIF — seller pays freight + insurance.
- DES — delivered ex-ship at destination port.
- DAP — delivered at place; common for inland tank truck deals.
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