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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 ...
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.
In computing, NaN (/ n æ n /), standing for Not a Number, is a particular value of a numeric data type (often a floating-point number) which is undefined as a number, such as the result of 0/0. Systematic use of NaNs was introduced by the IEEE 754 floating-point standard in 1985, along with the representation of other non-finite quantities ...
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An imperial fluid ounce is 1 ⁄ 20 of an imperial pint, 1 ⁄ 160 of an imperial gallon or exactly 28.4130625 mL. A US customary fluid ounce is 1 ⁄ 16 of a US liquid pint and 1 ⁄ 128 of a US liquid gallon or exactly 29.5735295625 mL, making it about 4.08% larger than the imperial fluid ounce. A US food labeling fluid ounce is exactly 30 mL.
The peroxide value is defined as the amount of peroxide oxygen per 1 kilogram of fat or oil. Traditionally this was expressed in units of milliequivalents, although in SI units the appropriate option would be in millimoles per kilogram (N.B. 1 milliequivalents = 0.5 millimole; because 1 mEq of O2 =1 mmol/2 of O2 =0.5 mmol of O2, where 2 is valence).
It is the world's 12th largest oil company by production. [2] As of 2021, the company has an oil production capacity exceeding 4 million bpd with plans to increase to 5 million bpd by 2030. [3] [4] It is the United Arab Emirate's largest oil company. [5] [6] [7] ADNOC's output was roughly flat at about 2.5 million barrels per day during the 1990s.
Over the course of the 1870s, the Standard Oil Company of Ohio acquired a monopoly on oil refining in the United States. [2] The Cleveland-based company was already among the largest refiners in the United States at the start of the decade, but it controlled only about four percent of the market. [2]