The search continues for the best pricing mechanisms for international oil grades. The amount of oil available for calculating the North Sea Brent Crude is dropping, and trading liquidity at the North Sea ports is decreasing. Production peaks at most oil fields are behind us, and ever more light oil is being imported to Europe from around the world. The issue of the stability and quality of various oil grades is ever more pertinent. The basic methods for calculating the North Sea Dated (Argus Media) and Brent Crude (S&P Global Platts) indices have undergone changes. These indices serve as a benchmark price for most European oil company contracts with consumers. Pricing agencies calculate spot market quotations for physical deliveries, and this market then forms the basis for derivative exchange instruments, including futures. What changes to trading can we expect in the coming years, given the new approaches to pricing? What are the trends and prospects for growth in the international and Russian crude oil markets?