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Metric regions commonly use the tonne of oil equivalent (toe), or more often million toe (Mtoe). Since this is a measurement of mass, any conversion to barrels of oil equivalent depends on the density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 1.08 to 1.19 cubic metres (6.8 to 7.5 bbl).
According to the American Petroleum Institute (API), a standard barrel of oil is the amount of oil that would occupy a volume of exactly 1 barrel (158.99 L) at reference temperature and pressure conditions of 60 °F (15.6 °C) and 14.696 psi (1,013.25 hPa) (or 1 atm). This standard barrel of oil will occupy a different volume at different ...
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
A barrel is one of several units of volume, with dry barrels, fluid barrels (UK beer barrel, US beer barrel), oil barrel, etc. The volume of some barrel units is double others, with various volumes in the range of about 100–200 litres (22–44 imp gal; 26–53 US gal).
Pages for logged out editors learn more. Contributions; Talk; Barrels of oil equivalent
Oil production in Iraq continued to decline as result of the nation's ongoing conflict causing a decrease in production to 1 million barrels per day (160,000 m 3 /d). [21] In mid-2006, crude oil was traded for over US$79 per barrel (bbl), [22] setting an all-time record.
An oil is any nonpolar chemical substance that is composed ... 7.6 L) of heating oil. The total production of a barrel of crude into various products results in an ...
Top 5 oil-producing countries 1980–2022 World oil production. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2023, tabulating all countries on a comparable best-estimate basis.