What Is Open Cover? Open cover is a type of marine insurance policy in which the insurer agrees to provide coverage for all cargo shipped during the policy period. Open cover insurance is most commonly purchased by companies that make frequent shipments, as the blanket coverage keeps them from having to purchase a new policy
What Is Open-End Credit? Open-end credit is a preapproved loan between a financial institution and borrower that may be used repeatedly up to a certain limit and can subsequently be paid back prior to payments coming due. The preapproved amount will be set out in the agreement between the lender and the borrower. Open-end credit
What Are Off-The-Run Treasuries? Off-the-run treasuries are all Treasury bonds and notes issued before the most recently issued bond or note of a particular maturity. Off-the-run treasuries can be contrasted with on-the-run treasuries, which refer to the newest issues only. Key Takeaways Off-the-run treasuries refer to any Treasury security that has been issued, except for
What is an OHLC Chart? An OHLC chart is a type of bar chart that shows open, high, low, and closing prices for each period. OHLC charts are useful since they show the four major data points over a period, with the closing price being considered the most important by many traders. The chart type
What Is Operating Income Before Depreciation and Amortization (OIBDA)? Operating income before depreciation and amortization (OIBDA) is a measure of financial performance used by companies to show profitability in their core business activities. OIBDA excludes the effects of capital spending on fixed assets, such as equipment, and the interest expense of carrying debt. Sometimes OIBDA
What Is an Original Issue Discount (OID)? An original issue discount (OID) is the discount in price from a bond’s face value at the time a bond or other debt instrument is first issued. Bonds can be issued at a price lower than their face value—known as a discount. The OID is the amount of
What Is an Oil Field? An oil field is a tract of land used for the purpose of extracting petroleum, such as natural gas or crude oil, from the ground. Although some contest the exact origins of oil, most consider petroleum to be a “fossil fuel” created from dead organic material often found in ancient seabeds
What Is the Oil Price to Natural Gas Ratio? As its name suggests, the oil price to natural gas ratio is a ratio in which the price of oil is the numerator and the price of natural gas is the denominator. The purpose of the oil price to natural gas ratio is to capture the
What Is an Oil Refinery? An oil refinery is an industrial plant that transforms, or refines crude oil into various usable petroleum products such as diesel, gasoline, and heating oils like kerosene. Oil refineries essentially serve as the second stage in the crude oil production process following the actual extraction of crude oil up-stream, and
The World’s Largest Oil Reserves By Country Rank Country Oil Reserves (in billions of barrels) 1 Venezuela 303.8 2 Saudi Arabia 297.5 3 Canada 168.1 4 Iran 157.8 5 Iraq 145 6 Russia 107.8 7 Kuwait 101.5 8 United Arab Emirates 97.8 9 United States 68.8 10 Libya 48.4 Source: BP, plc. The Organization of
