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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 ...
The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
Halfords rebranded in February 2003, to the black and orange logo it has today. [5] Halfords entered into a Collaboration Agreement with Autobacs Seven Co. on 11 July 2005, [6] a Japan based car accessory retailer with chains of stores all over the world and is best known for being the title sponsor of Super GT and D1 Grand Prix. [7]
Dubai Crude, also known as Fateh, is a heavy sour crude oil extracted from Dubai.It is produced in the Emirate of Dubai, part of the United Arab Emirates. [5] Dubai's only refinery, at Jebel Ali, takes condensates as feedstocks, and therefore all of Dubai's crude production is exported.
By the mid-1980s, recommended viscosities had moved down to 5W-30, primarily to improve fuel efficiency. A typical modern application would be Honda motor's use of 5W-20 (and in their newest vehicles, 0W-20) viscosity oil for 12,000 kilometres (7,500 mi).
Although some oil was produced commercially before 1859 as a byproduct from salt brine wells, the American oil industry started on a major scale with the discovery of oil at the Drake Well in western Pennsylvania in 1859. The American Petroleum Institute was founded on 20 March 1919 and based in New York City. [1]
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