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style="display:none;visibility:hidden"></iframe></noscript><meta name="yandex-verification" content="62586cd589597c4c"/><main><div class="component "><div class="component-content"><div class="HeroBanner_heroBanner__S5yC9 navy"><img alt="Upstream oil and gas" loading="lazy" width="1600" height="530" decoding="async" data-nimg="1" class="HeroBanner_image__dejfl d-none d-lg-block qa-banner-image" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fdesktop%2Fherobanner1600x530_upstreamoilandgaspage.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3DB8B76589241C04A2D0F9E43D1BF03925&w=1920&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fdesktop%2Fherobanner1600x530_upstreamoilandgaspage.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3DB8B76589241C04A2D0F9E43D1BF03925&w=3840&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fdesktop%2Fherobanner1600x530_upstreamoilandgaspage.jpg%3Fh%3D530%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3DB8B76589241C04A2D0F9E43D1BF03925&w=3840&q=75"/><img alt="Upstream oil and gas" loading="lazy" width="390" height="623" decoding="async" data-nimg="1" class="HeroBanner_image__dejfl d-lg-none qa-banner-image" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fmobile%2Fherobanner390x620_upstreamoilandgaspage.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D8F381573D6B0BAA7D65C08FE393A6762&w=640&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fmobile%2Fherobanner390x620_upstreamoilandgaspage.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D8F381573D6B0BAA7D65C08FE393A6762&w=828&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2F12-new-pages-required%2Findustry%2Fmobile%2Fherobanner390x620_upstreamoilandgaspage.jpg%3Fh%3D620%26iar%3D0%26w%3D390%26rev%3D-1%26hash%3D8F381573D6B0BAA7D65C08FE393A6762&w=828&q=75"/><div class="HeroBanner_container___RcE5 container"><div class="row"><div class="col-12 col-lg-6 offset-lg-1"><div class="HeroBanner_titleAndDescription__0Cj9_"><h1 class="qa-banner-title">Upstream oil and gas</h1><div class="h4 qa-banner-description"><p>From crude oil, through to natural gas and LPG, our coverage is vital in supporting upstream markets</p> <p> </p></div></div></div></div></div></div></div></div><div class="component small grey "><div class="component-content"><div class="PageSubnavigation_container__yH3q7 qa-subnavigation-bar container"><div class="PageSubnavigation_outer__ocRn_"><div class="PageSubnavigation_bar__Cf50a"><a href="#overview" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Overview</a><a href="#commodities" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Commodities we cover</a><a href="#advantage" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">The Argus advantage</a><button type="button" class="PageSubnavigation_showMore__2Z47G cta "></button></div></div><div class="PageSubnavigation_drawer__lxQUi grey " style="left:0px"><div class="container"><div class="PageSubnavigation_drawerInner__Q_bJs"><div class="PageSubnavigation_drawerItems__AwukY"><a href="#overview" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Overview</a><a href="#commodities" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">Commodities we cover</a><a href="#advantage" class="qa-subnavigation-anchor PageSubnavigation_item__mBuP2 cta bar " title="">The Argus advantage</a></div></div></div></div></div></div></div><div class="component component-padding PageIntroduction_pageIntroduction__BoFDD white" id="overview"><div class="component-content"><div class="container"><div class="PageIntroduction_row__DH0rm row"><div class="col-12 col-lg-8"><div class="qa-pageintroduction-section"><h2 class="qa-pageintroduction-title">Overview</h2><div class="PageIntroduction_description__hOYK7"><div class="qa-pageintroduction-textfield"><p>Argus has reported on crude oil and markets and natural gas for decades. Our WTI assessments at Midland and Houston are the standard physical benchmarks for US crude.</p> <p>Our ASCI(r) index is the key reference for Mideast exports to the Americas. Our natural gas prices and indexes are benchmarks for Europe’s major gas trading hubs. And our news and analysis of key upstream markets in Russia, China, Latin America, Europe and North America is second to none.</p></div></div></div></div></div></div></div></div><div class="component component-padding CardList_cardList__q7ODc grey" id="commodities"><div class="component-content"><div class="container"><div class="row CardList_intro__VtE8M"><div class="col-12 col-lg-7"><h2 class="qa-section-title section-heading">Commodities we cover</h2><p class="qa-section-description">To unearth the true insights needed to make confident decisions, you need access to data, price assessments and analytical tools on the commodity markets that drive upstream oil and gas. Explore our coverage most relevant to you:</p></div></div><div class="qa-primary-section CardList_primary__YX8MI"><div class="row"><div class="qa-primary-list col-12 col-lg-6 CardList_grow__eDWp1"><a title="" target="" class="qa-primary-links CardList_primaryLink__zryuh " href="/ja/commodities/crude"><img alt="Crude Oil" loading="lazy" width="332" height="193" decoding="async" data-nimg="1" class="qa-primary-image CardList_primaryImage__v2R1P" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_crude-oil.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D5234F6BF385E7B5BDCE345EFF3EEFBA6&w=384&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_crude-oil.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D5234F6BF385E7B5BDCE345EFF3EEFBA6&w=750&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_crude-oil.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D5234F6BF385E7B5BDCE345EFF3EEFBA6&w=750&q=75"/><div class="qa-primary-description CardList_primaryInner__KmAtL white"><h3 class="h4">Crude oil</h3><div>Our crude oil coverage is your must-have source of daily news, prices and analysis for over 100 internationally-traded crude streams.</div></div></a></div><div class="qa-primary-list col-12 col-lg-6 CardList_grow__eDWp1"><a title="" target="" class="qa-primary-links CardList_primaryLink__zryuh " href="/ja/commodities/natural-gas"><img alt="Natural gas" loading="lazy" width="332" height="193" decoding="async" data-nimg="1" class="qa-primary-image CardList_primaryImage__v2R1P" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_natural-gas.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3DD3A2E66BFF5C0402C36169F01E9DA95C&w=384&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_natural-gas.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3DD3A2E66BFF5C0402C36169F01E9DA95C&w=750&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_natural-gas.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3DD3A2E66BFF5C0402C36169F01E9DA95C&w=750&q=75"/><div class="qa-primary-description CardList_primaryInner__KmAtL white"><h3 class="h4">Natural gas</h3><div>Energy companies, governments, banks, regulators and many other organisations depend on our natural gas prices as trusted benchmarks.</div></div></a></div><div class="qa-primary-list col-12 col-lg-6 CardList_grow__eDWp1"><a title="" target="" class="qa-primary-links CardList_primaryLink__zryuh " href="/ja/commodities/lng"><img alt="LPG" loading="lazy" width="332" height="193" decoding="async" data-nimg="1" class="qa-primary-image CardList_primaryImage__v2R1P" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_lpg-ngls.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D2988E13A2704510BD1F829354C7651DD&w=384&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_lpg-ngls.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D2988E13A2704510BD1F829354C7651DD&w=750&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fcommodity-card-list%2Fdesktop%2Fcommoditycardlist338x195_lpg-ngls.jpg%3Fh%3D195%26iar%3D0%26w%3D338%26rev%3D-1%26hash%3D2988E13A2704510BD1F829354C7651DD&w=750&q=75"/><div class="qa-primary-description CardList_primaryInner__KmAtL white"><h3 class="h4">LPG/NGLs</h3><div>Uncover an expert perspective on the international LNG markets, offering prices, market commentary and data.</div></div></a></div></div></div><div class="qa-secondary-section row"></div></div></div></div><div class="component " id="theme"><div class="component-content"><div class="BreakoutPromo_breakoutPromo__qXYiV gradient"><img alt="Crude Oil" loading="lazy" width="1600" height="610" decoding="async" data-nimg="1" class="BreakoutPromo_image__XCaXJ" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fbreakout-promo%2Fdesktop%2Fbreakoutpromo1600x610_crude-oil.jpg%3Fh%3D610%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D0E4F079A91F0080E812085E8E51B8E61&w=1920&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fbreakout-promo%2Fdesktop%2Fbreakoutpromo1600x610_crude-oil.jpg%3Fh%3D610%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D0E4F079A91F0080E812085E8E51B8E61&w=3840&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Fbreakout-promo%2Fdesktop%2Fbreakoutpromo1600x610_crude-oil.jpg%3Fh%3D610%26iar%3D0%26w%3D1600%26rev%3D-1%26hash%3D0E4F079A91F0080E812085E8E51B8E61&w=3840&q=75"/><div class="BreakoutPromo_content__LYBeY"><div class="container BreakoutPromo_inheritHeight__OYtPg"><div class="row BreakoutPromo_inheritHeight__OYtPg"><div class="col-12 col-lg-6"><div class="BreakoutPromo_text__AgBd2"><h2 class="qa-breakoutpromo-title undefined">Argus WTI Houston – at the heart of global crude oil trade</h2><p class="qa-breakoutpromo-text">WTI Midland is now the world’s largest freely traded grade of crude oil by output and volume. This crude has truly emerged as the global crude oil benchmark.</p><a title="" target="" class="qa-breakoutpromo-cta cta large" href="/ja/news-and-insights/topical-market-themes/wti-goes-global">Learn more</a></div></div></div></div></div></div></div></div><div class="component component-padding ColumnImage_columnImage__HgzLW position-center white" id="advantage"><div class="component-content"><div class="container"><div class="ColumnImage_heading__l3LQA"><h2 class="qa-benefits-title h1">The Argus advantage</h2></div><div class="ColumnImage_results__h4thb row"><div class="qa-benefits-items col-12 col-lg-4"><div class="ColumnImage_item__wkWBY"><img alt="" loading="lazy" width="120" height="120" decoding="async" data-nimg="1" class="qa-benefits-item-image ColumnImage_image__zKXF9" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---group---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D3CACE65F1CBE1E6007F003FBCA5988D7&w=128&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---group---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D3CACE65F1CBE1E6007F003FBCA5988D7&w=256&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---group---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D3CACE65F1CBE1E6007F003FBCA5988D7&w=256&q=75"/><h3 class="qa-benefits-item-title h4">Our people</h3><p class="qa-benefits-item-description ColumnImage_description__t04js">Our dedicated team of industry professionals are close to local markets, so you benefit not only from precise pricing data, but the breadth of market intelligence at their fingertips. Data alone - no matter how accurate - is not sufficient.</p></div></div><div class="qa-benefits-items col-12 col-lg-4"><div class="ColumnImage_item__wkWBY"><img alt="" loading="lazy" width="120" height="120" decoding="async" data-nimg="1" class="qa-benefits-item-image ColumnImage_image__zKXF9" style="color:transparent" srcSet="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---create---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D2C2D1871A1DF00FBAEA52B66293EFC3D&w=128&q=75 1x, /_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---create---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D2C2D1871A1DF00FBAEA52B66293EFC3D&w=256&q=75 2x" src="/_next/image?url=%2F-%2Fmedia%2Fproject%2Fargusmedia%2Fmainsite%2Fimages%2Ficons%2Fargus-media---icon---create---large.png%3Fh%3D120%26iar%3D0%26w%3D120%26rev%3D-1%26hash%3D2C2D1871A1DF00FBAEA52B66293EFC3D&w=256&q=75"/><h3 class="qa-benefits-item-title h4">Methodologies</h3><p class="qa-benefits-item-description ColumnImage_description__t04js">The unique market insights that out clients benefit from are founded upon proven methods. 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