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Crude oil is considered "heavy" if it has long hydrocarbon chains, or "light" if it has short hydrocarbon chains: an API gravity of 34 or higher is "light", between 31 and 33 is "medium", and 30 or below is "heavy". Crude is considered "sweet" if it is low in sulphur content (< 0.5%/weight), or "sour" if high (> 1.0%/weight). Generally, the ...
Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
Most of its ships were registered in Liberia, thus taking advantage of the comparatively low taxes and the ability to recruit seafarers from across the world. The company grew in the 1980s by operating in the risky waters off Persian Gulf during the Iran–Iraq War. [5] In 2017, Teekay was a joint owner in Bapco, an oil project in Bahrain. [6]
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 ...
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The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
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