This chart shows Conventional crude oil – total energy supply by Country.
The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, usually zooplankton and algae, are buried underneath sedimentary rock and subjected to both intense heat and pressure.
Crude can refer to : Petroleum in its unprocessed form ("crude oil"), including: Brent crude oil, Heavy crude oil, Light crude oil, Sweet crude oil, Pennsylvania Grade Crude Oil, a type of sweet crude, Synthetic crude oil.
In the international petroleum industry, crude oil products are traded on various oil bourses based on established chemical profiles, delivery locations, and financial terms. The chemical profiles, or crude oil assays, specify important properties such as the oil's API gravity. crude oil assays evaluate various chemical properties of the oil, the two most important properties determining a crude's value are its density and its sulphur content .
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 31-33 is "medium", and 30 or below is "heavy". Crude is considered "sweet" if it is low in sulphur content, or "sour" if high . Generally, the higher the API gravity , the more valuable the crude.
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