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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 ...
Petroleum products are materials derived from crude oil as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. [1] Most petroleum is converted into petroleum products, which include several classes of fuels. [2]
US crude prices jumped as much as 4% to $94.04 a barrel on Wednesday — the highest intraday price since August 30, 2022 — before settling at $93.68 a barrel, up 3.6% on the day.
oil-based units: gigatonne of oil equivalent: Gtoe Gtoe 1.0 Gtoe (42 EJ) megatonne of oil equivalent: Mtoe Mtoe 1.0 Mtoe (42 PJ) kilotonne of oil equivalent: ktoe ktoe 1.0 ktoe (42 TJ) tonne of oil equivalent: toe toe 1.0 toe (42 GJ) kilo barrel of oil equivalent: kBOE (kbboe) kBOE 1.0 kBOE (6.1 TJ) barrel of oil equivalent: BOE BOE 1.0 BOE (6. ...
Mbod – thousand barrels of oil per day; Mboe – thousand barrels of oil equivalent; Mboed – thousand barrels of oil equivalent per day; MBP – mixed-bed polisher; Mbpd – thousand barrels of oil per day; MBR – minimum bend radius; MBRO – multi-bore restriction orifices; MBT – methylene blue test; MBWH – multi-bowl wellhead
Oil futures jumped more than 2% on Friday as signs of supply tightness sent prices higher. West Texas Intermediate futures surged above $80 per barrel during intraday trading for the first time ...
Oil prices will fall to an average of $65 per barrel in 2025 amid an oversupply of crude and a backdrop of slowing demand as countries shift toward cleaner energies and forms of transportation ...