... Note: Bold = OPEC members Source: JPMorgan Energy Strategy, IEA Oil & Gas Basics_ 20080324 How is crude oil related to other oils, like gasoline and heating oil? Oil refining is the process of turning ... Natural Gas: NYMEX natural gas European natural gas priced as oil- referenced formula 17 Oil & Gas Basics_ 20080324 Some futures curves are seasonal Gasoline vs Heating Oil Gasoline vs Heating Oil ... terms and conventions Oil & Gas Basics_ 20080324 Energy markets cycle through periods of over- and under-investment Baker Hughes World Oil & Gas Rig Count and Crude Price Baker Hughes World Oil & Gas...