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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 ...
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]
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Petrochemical plant in Saudi Arabia. Petrochemicals (sometimes abbreviated as petchems [1]) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.
Synthetic rubber, like other polymers, is made from various petroleum-based monomers. Some synthetic rubbers are less sensitive to ozone cracking than natural rubber. Natural rubber is sensitive owing to the double bonds in its chain structure, but some synthetic rubbers do not possess these bonds and so are more resistant to ozone cracking.
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The plastic kits and covers are mostly made of synthetic polymers like polythene, and tires are manufactured from polybutadienes. [1] However, due to the environmental issues created by these synthetic polymers which are mostly non-biodegradable and often synthesized from petroleum, alternatives like bioplastics are also being considered.