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Heavy crude oil is closely related to natural bitumen from oil sands. Petroleum geologists categorize bitumen from oil sands as 'extra-heavy oil' due to its density of less than 10° API. [8] Bitumen is the heaviest, thickest form of petroleum. [9]
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.
In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to be economically viable. Similarly, Venezuela's proven reserves jumped in the late 2000s when the heavy oil of the Orinoco Belt was judged economic.
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 ...
A map of world oil consumption in barrels a day per capita, 2007. Daily oil consumption by region from 1980 to 2006. This is a list of countries by oil consumption.[1][2] In 2022, the International Energy Agency (IEA) announced that the total worldwide oil consumption would rise by 2% [3] year over year compared to 2021 despite the COVID-19 ...
Rear house, full hull, midships pipeline. An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. [3] Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries. [3]
A map of world oil production (2013) Oil-producing countries (information from 2006 to 2012) This article includes a chart representing proven reserves, production, consumption, exports and imports of oil by country.
Western Canadian Select (WCS) is a heavy sour blend of crude oil [1] that is one of North America's largest heavy crude oil streams [2] and, historically, its cheapest. [3] It was established in December 2004 as a new heavy oil stream by EnCana (now Cenovus), Canadian Natural Resources, Petro-Canada (now Suncor) and Talisman Energy (now Repsol Oil & Gas Canada). [4]