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That's one reason the global oil surplus could swell to 1.2 million barrels per day next year, according to JPMorgan. Otherwise, expanding outflows from the US, Brazil, Guyana and Canada will also ...
A wide range of analysis instruments are used in the oil, gas and petrochemical industries. [1] [16] Chromatography – to measure the quality of product or reactants; Density (oil) – for custody metering of liquids; Dewpoint (water dewpoint and hydrocarbon dewpoint) to check the efficiency of dehydration or dewpoint control plant
Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
The oil market could see a surplus of one million barrels of crude a day in 2025, the IEA forecast. The excess will be driven by low demand in China and booming output from non-OPEC countries.
Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.
An overhang of homeless crude in the Atlantic Basin has halved in recent weeks, suggesting oil traders are bracing for a further supply loss from Iran due to U.S. sanctions and a new rally in prices.
Oil-exporting countries have used part of their petrodollar surpluses to fund foreign aid programs, as a prominent example of so-called "checkbook diplomacy" or "petro-Islam". The Kuwait Fund was an early leader since 1961, and certain Arab states became some of the largest donors in the years since 1974, including through the IMF and the OPEC ...
Automotive oil recycling involves the recycling of used oils and the creation of new products from the recycled oils, and includes the recycling of motor oil and hydraulic oil. Oil recycling also benefits the environment: [1] increased opportunities for consumers to recycle oil lessens the likelihood of used oil being dumped on lands and in ...