# Crude Oil Lot Size in MCX (2026): Crude Oil and Crude Oil Mini Author: AlgoTest Author URL: https://algotest.in/blog/author/algotest/ Published: 2026-10-24 Category: MCX Category URL: https://algotest.in/blog/category/mcx/ Meta Description: MCX crude oil lot size is 100 barrels and Crude Oil Mini is 10 barrels. See 1 lot value, P&L per ₹1 move, options lot size, expiry and settlement. Tags: options trading, mcx Tag URLs: options trading (https://algotest.in/blog/tag/options-trading/), mcx (https://algotest.in/blog/tag/mcx/) URL: https://algotest.in/blog/crude-oil-lot-size/ Crude oil lot size is the fixed quantity of crude oil in one MCX contract. One lot of MCX Crude Oil is 100 barrels, and one lot of Crude Oil Mini is 10 barrels. **Quick answer: MCX crude oil lot size** - One lot of Crude Oil (CRUDEOIL) is 100 barrels. - One lot of Crude Oil Mini (CRUDEOILM) is 10 barrels. - Both are quoted in rupees per barrel, so a ₹1 move changes one lot by ₹100 for Crude Oil and ₹10 for Crude Oil Mini. - Crude oil options have the same lot size as their underlying futures. > Trade crude oil with a plan, not a guess. [Sign up free on AlgoTest](https://algotest.in/register?utm_source=blogs&utm_medium=organics&utm_campaign=seo&utm_source=blogs&utm_medium=organics&utm_campaign=seo) to backtest, replay past sessions and build option strategies in one place. ## MCX Crude Oil Lot Size and Contract Specifications Specification Crude Oil Crude Oil Mini Symbol CRUDEOIL CRUDEOILM Lot size 100 barrels 10 barrels Price quoted per 1 barrel 1 barrel Futures tick size ₹1 ₹1 Value of one tick (1 lot) ₹100 ₹10 1 lot value at ₹6,000 per barrel ₹6,00,000 ₹60,000 Options lot size 100 barrels 10 barrels Settlement Cash-settled Cash-settled _The ₹6,000 price is an example, not a live quote. MCX can revise contract specifications, so check the latest specs before you trade. For other commodities, see our full_ [_MCX lot size_](https://algotest.in/blog/mcx-lot-size/) _table._ ## How to Calculate the Value of 1 Lot of Crude Oil Multiply the price per barrel by the number of barrels in one lot. - If crude oil trades at ₹6,000 per barrel, one Crude Oil lot is worth ₹6,000 × 100 = ₹6,00,000. - One Crude Oil Mini lot at the same price is worth ₹6,000 × 10 = ₹60,000. - If the price rises by ₹50 to ₹6,050, a long Crude Oil lot gains ₹5,000 and a long Crude Oil Mini lot gains ₹500. A ₹50 fall causes the same loss. This is the full value of the contract, not the money you need to trade it. For futures, you deposit [margin](https://algotest.in/blog/leverage-in-trading-futures-contracts/), which is a share of this value. Margin changes with volatility, so check the current figure in your broker’s app before you trade. > **Try it free: see how one crude oil lot moves** > > 1. [Sign up or log in to AlgoTest.](https://algotest.in/register?utm_source=blogs&utm_medium=organics&utm_campaign=seo&utm_source=blogs&utm_medium=organics&utm_campaign=seo) > > 2. Open the [AlgoTest Option Simulator](https://algotest.in/feature/simulator?utm_source=blog&utm_medium=seo&utm_campaign=simulator&utm_source=blog&utm_medium=seo&utm_campaign=simulator) and select CRUDEOIL from the instrument list. > > 3. Pick a past trading day to replay, such as an evening when US crude inventory data came out. > > 4. Buy or sell one lot of a crude oil option and watch how your P&L changes as the price moves. > > > The Simulator uses the standard 100-barrel contract, so divide the P&L by 10 to estimate one Crude Oil Mini lot. ## Crude Oil vs Crude Oil Mini: Which Lot Size Fits You? - Crude Oil Mini is one-tenth the size of the standard contract, so 10 mini lots equal one Crude Oil lot. - The mini contract lets you size positions in smaller steps, which helps when you want to risk a fixed amount per trade. - The standard contract suits traders who are comfortable with a ₹100 change in P&L for every ₹1 move. - If you are new to crude oil, the mini contract keeps your risk per trade smaller while you learn how the market moves. Our [position size calculator](https://algotest.in/blog/position-size-calculator/) guide shows how to work out how many lots fit your risk limit. ## Crude Oil Options Lot Size Crude oil options on MCX are options on futures. One Crude Oil option lot covers 100 barrels, and one Crude Oil Mini option lot covers 10 barrels. MCX launched Crude Oil Mini options in April 2024. - Option premiums are quoted per barrel. If a Crude Oil call trades at ₹120, one lot costs ₹120 × 100 = ₹12,000, and a Crude Oil Mini call at the same premium costs ₹1,200. - Crude oil options expire two business days before their underlying futures contract. - In-the-money options held to expiry turn into futures positions of the same lot size, so you need enough margin to hold them. To read strikes, open interest and implied volatility for these contracts, see our guide on [how to read the MCX option chain](https://algotest.in/blog/how-to-read-mcx-option-chain/). > Trading crude oil options? Check a position’s payoff, breakeven and maximum loss (where defined) in the [AlgoTest Strategy Builder](https://algotest.in/feature/strategy-builder?utm_source=blog&utm_medium=seo&utm_campaign=strategy-builder&utm_source=blog&utm_medium=seo&utm_campaign=strategy-builder) before you place it. ## Crude Oil Expiry and Settlement on MCX - MCX crude oil futures usually expire around the 19th or 20th of the month, about one business day before the matching NYMEX WTI crude oil contract. - Crude oil is cash-settled, so no barrels are delivered. Positions open at expiry are settled at a final price linked to NYMEX WTI crude oil, converted to rupees. - Expiry dates can shift around [MCX holidays](https://algotest.in/blog/mcx-holidays/), so always check the exact date in your broker’s app or the MCX contract specification. Crude oil trades from 9:00 AM to 11:30 PM or 11:55 PM, depending on US daylight saving time. See [MCX trading time](https://algotest.in/blog/mcx-trading-time/) for the full schedule. ## Backtest Crude Oil Strategies on AlgoTest Lot size decides how much every ₹1 move costs you, so test a crude oil strategy at its real size before you trade it. [Backtest](https://algotest.in/feature/backtest) your crude oil futures and options strategies on historical MCX data. Each report, one of the most detailed available to Indian options traders, shows total and year-wise P&L, cumulative P&L against the underlying, win rate, risk-reward ratio, [maximum drawdown](https://algotest.in/blog/why-max-drawdown-matters-in-risk-management/), winning and losing streaks, Monte Carlo analysis, DTE and weekend filter performance, and downloadable trade logs. When your rules are ready, you can run MCX crude oil strategies live through Zerodha on AlgoTest. > See these metrics for your own crude oil strategy. [Sign up to get 100 Backtests free/month](https://algotest.in/register?utm_source=blogs&utm_medium=organics&utm_campaign=seo&utm_source=blogs&utm_medium=organics&utm_campaign=seo) ## Turn One Crude Oil Lot Into a Tested Plan Pick the contract that matches your risk: Crude Oil for bigger exposure, Crude Oil Mini for smaller steps. Then define your entry, exit and position size, and check how the plan holds up across calm and volatile sessions before you trade it live. [AlgoTest](https://algotest.in/register?utm_source=blogs&utm_medium=organics&utm_campaign=seo&utm_source=blogs&utm_medium=organics&utm_campaign=seo) helps you move from an idea to a strategy you can inspect and test before deciding whether to deploy. Join us as we simplify retail trading in India. Start Free ### Related Reading - [Best Commodities to Trade in India](https://algotest.in/blog/best-commodity-to-trade-in-india/) - [7 Best Commodity Brokers in India](https://algotest.in/blog/7-best-commodity-brokers-in-india/) - [Best MCX Algo Trading Software in India](https://algotest.in/blog/best-mcx-algo-trading-software-india/) - [Best Commodity Exchanges in India: MCX vs NCDEX vs NSE](https://algotest.in/blog/commodity-exchanges-in-india-mcx-vs-ncdex-vs-nse/) - [Paper Trading vs Live Trading](https://algotest.in/blog/paper-trading-vs-live-trading/) ### FAQs ### How much is 1 lot of crude oil in MCX? One lot of MCX Crude Oil is 100 barrels. One lot of Crude Oil Mini is 10 barrels. ### What is the value of 1 lot of crude oil? Multiply the price per barrel by 100. At ₹6,000 per barrel, one Crude Oil lot is worth ₹6,00,000 and one Crude Oil Mini lot is worth ₹60,000. To trade futures, you only deposit margin, which is a share of this value. ### How much does 1 lot of crude oil move for a ₹1 change? A ₹1 move changes one Crude Oil lot by ₹100 and one Crude Oil Mini lot by ₹10. ### Is the crude oil options lot size the same as futures? Yes. One Crude Oil option lot is 100 barrels and one Crude Oil Mini option lot is 10 barrels, the same as their underlying futures. ### Is MCX crude oil physically delivered? No. MCX crude oil is cash-settled. Positions open at expiry are settled at a final price linked to NYMEX WTI crude oil. ### Should beginners trade Crude Oil or Crude Oil Mini? Crude Oil Mini carries less risk per lot. Each ₹1 move changes your P&L by ₹10 instead of ₹100, which makes it easier to keep losses small while you learn. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---