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Generally speaking, oil with an API gravity between 40 and 45° commands the highest prices. Above 45°, the molecular chains become shorter and less valuable to refineries. [8] Crude oil is classified as light, medium, or heavy according to its measured API gravity. Light crude oil has an API gravity higher than 31.1° (i.e., less than 870 kg/m 3)
Its typical gravity is around 80 API. Natural gasoline is rather volatile and unstable, and has a low octane rating, but can be blended with other hydrocarbons to produce commercial gasoline. [4] It is also used as a solvent to extract oil from oil shale. [4] Its properties are standardized by GPA Midstream (formerly Gas Processors Association ...
In the international petroleum industry, crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms. The chemical profiles, or crude oil assays , specify important properties such as the oil's API gravity .
The clear cut definition of light and heavy crude varies because the classification is based more on practical grounds than theoretical. The New York Mercantile Exchange (NYMEX) defines light crude oil for domestic U.S. oil as having an API gravity between 37° API (840 kg/m 3) and 42° API (816 kg/m 3), while it defines light crude oil for non-U.S. oil as being between 32° API (865 kg/m 3 ...
API gravity, a measure of the density of petroleum. API number, a unique identifier applied to each petroleum exploration or production well drilled in the United States. API unit, a standard measure of natural gamma radiation measured in a borehole. [16] "Non-API", an item (e.g., tubular connector) not conforming to API standards
The API gravity of a crude oil is a measurement of purity - i.e., amount of impurities, such as sulphur, nitrogen, or oxygen. [8] Impurities increase the density of the crude. [ 9 ] [ 6 ]
Gasoline prices go from 36 cents a gallon in 1972 to over 50 cents a gallon in 1973. March 18, 1974 - At an OPEC meeting, seven members lift the ban on exports to United States.
Heavy crude oil (or extra heavy crude oil) is highly viscous oil that cannot easily flow from production wells under normal reservoir conditions. [1] It is referred to as "heavy" because its density or specific gravity is higher than that of light crude oil. Heavy crude oil has been defined as any liquid petroleum with an API gravity less than ...