Crude oil cargo value calculator
Estimate the gross value of a crude cargo after quantity loss and a price adjustment.
Quick answer: Cargo value = payable barrels × (benchmark price + quality adjustment) − costs. 998,000 payable barrels at an adjusted $73 are worth about $72.9 million before costs.
Explore the numbers.
Calculate to update this worksheet from your inputs.
Scenario chart
Scenarios change one input while holding the others constant. They are calculations, not observed market prices or forecasts.
Detailed calculation table
The table contains the same inputs used for your result. Values are rounded for display; CSV preserves more precision.
| Calculate to load your worksheet. |
Build a cargo value from barrels, grade and costs
How to use this calculator
- Enter the loaded barrels and the benchmark price for your pricing date.
- Add the quality adjustment: a positive number for a premium, a negative number for a discount.
- Enter any expected quantity loss and a lump sum for freight, insurance or other costs.
With 1,000,000 loaded barrels, a $75 benchmark, a −$2 quality adjustment and 0.2% loss, payable barrels are 998,000 and the adjusted price is $73. The estimated gross value is $72,854,000.
Start with payable barrels
A ship rarely delivers exactly what was loaded. The loss input removes a stated percentage for transit or measurement loss before any value is calculated.
A benchmark plus a differential
Physical cargoes are often priced as a benchmark, such as Brent, WTI or Dubai, plus or minus a differential. The differential reflects the grade, the delivery location and timing. Heavy, high-sulfur grades often trade at a discount; light, low-sulfur grades may earn a premium.
Costs come off the total
Freight, insurance and other costs are subtracted as one amount after the gross value. Leave them at zero to see the gross cargo value only.
Where to go next
For a benchmark, check the latest Brent crude price or WTI crude price. The crude quality guide shows why grades earn premiums or discounts, and the oil cargo story walks through the same arithmetic step by step.
Questions about this calculation
How many barrels does an oil tanker carry?
It depends on the ship. A Suezmax tanker typically carries about 1 million barrels, and a VLCC (very large crude carrier) about 2 million.
What is a crude quality differential?
It is the amount added to or taken off a benchmark price to reflect how a particular crude differs in density, sulfur, location or delivery timing.
Is the result an invoice value?
No. A real invoice depends on the contract pricing period, measured quantities and agreed terms. Treat this as a transparent estimate.
Continue your calculation.
All calculators →Explore oil benchmark prices, the crude quality map, the US oil balance dashboard and our data methodology.