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U.S. Energy Information Administration: World Crude Oil Prices Archived 2008-11-10 at the Wayback Machine; BP Crude Grades; Intertek: Crude Oil Grades and Types; MeGlobalOil: Carriage of Heavy Grade Oil; Statoil.com: Crude oil assays; EnergyIntel.com: The Crude Oils and their Key Characteristics; Capline system crude oil properties and quality ...
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)
API Standards Committees are made up of subcommittees and task groups that works and maintain these standards. [10] [11] API also defines the industry standard for the energy conservation of motor oil. As of 2020 API SP is the latest specification. It supersedes API SN. SP specifies more stringent engine oil performance requirements for spark ...
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.
API – American Petroleum Institute: organization which sets unit standards in the oil and gas industry °API – degrees API (gravity of oil) APPRE – appraisal report; APS – active pipe support; APWD – annular pressure while drilling (tool) [5] ARACL – array acoustic log; ARESV – analysis of reservoir; ARI – azimuthal resistivity ...
Engine oil which has been tested and meets the API standards may display the API Service Symbol (also known as the "Donut") with the service categories on containers sold to oil users. [21] The latest API service category is API SP for gasoline automobile and light-truck engines. [22] The SP standard refers to a group of laboratory and engine ...
The oil carries both the American Petroleum Institute (API) diesel "C" rating as well as the API gasoline engine "S" rating. Ratings differ based on the oil. Ratings differ based on the oil. Rotella oils, like the T3 15W-40, meet both the API CJ-4 and SM specifications, and may be used in both gasoline and diesel engines.
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 ...