noun ·2 syllables ·Rare ·Advanced level

Definitions

Noun

1. 1
   Revenues received from the sale of oil or gas on spot market minus the costs of extraction, processing and transportation. countable, uncountable

Etymology

From net + back. The term was widely adopted by the oil industry in the second half of 1985.

Related phrases

spot market

Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.