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Both the 42-US-gallon (159 L) barrels (based on the old English wine measure), the tierce (159 litres) and the 40-US-gallon (150 L) whiskey barrels were used. Also, 45-US-gallon (170 L) barrels were in common use. The 40 gallon whiskey barrel was the most common size used by early oil producers, since they were readily available at the time.
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).
The tierce (also terse) is both an archaic volume unit of measure of goods and the name of the cask of that size. [1] The most common definitions are either one-third of a pipe or forty-two gallons. In the petroleum industry - a barrel of oil is defined as 42 US gallons.
Although crude oil is sometimes shipped in 55-US-gallon drums, the measurement standard of oil in barrels is based on the whiskey containers of the 1870s that measured 42 US gallons (35 imp gal; 159 L). [12] The measure of 42 US or wine gallons corresponds to a wine tierce (third-pipe).
One US dry barrel: 1.17 × 10 −1: One US beer barrel, 31 US gallons 1.19 × 10 −1: One US fluid barrel (apart from oil or beer), 31.5 US gallons 1.59 × 10 −1: One oil barrel, 42 US gallons, about one tierce (158–160 L) 1.64 × 10 −1: One imperial barrel, 36 imperial gallons 1.80 × 10 −1: One koku: 2 × 10 −1: Standard drum size ...
One of the largest container ships to call on the U.S., the CMA CGM Benjamin Franklin, carries approximately 4.5 million gallons of fuel oil. Ship fuel capacity is generally converted to ...
Oil prices have room to go higher and could peak short of $100 per barrel, according to one Wall Street analyst. "We think oil into the summer months will kind of top out at around $95+ a barrel ...
On average, U.S. petroleum refineries produce about 19 to 20 gallons of gasoline, 11 to 13 gallons of distillate fuel diesel fuel and 3 to 4 gallons of jet fuel from each 42 gallon (152 liters) barrel of crude oil. The product ratio depends upon the processing in an oil refinery and the crude oil assay. [13]