Understanding the Marketing for Oil, getting it sold

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Once oil and gas have been discovered, commercial viability has been determined, production equipment has been installed, and treating and processing have been completed to bring these commodities to a marketable state, the next step is to market the product. Oil, natural gas, and NGL are each fungible commodities whose sales value is not greatly enhanced by product differentiation using colorful packaging and media advertising. Their prices are no longer subject to federal price controls, and the markets have become very volatile since the early 1980s. Marketing and price are largely influenced by the product's physical quality, potential customers, location of product and customer, and supply and demand for the commodity.

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Source: Petroleum Accounting