Barrel of oil: related pages
Boe (barrels of oil equivalent)
A single number combining the volumes of oil and gas production.
Crude oil
A mixture of liquid hydrocarbons. Prices vary with grade and density.
API gravity
A measure of the density of crude oil.
Oil reserves
The amount of oil or gas that has been discovered and that can be extracted profitably, classified by the probability of successful extraction.
Brent crude
The accepted world benchmark crude oil which is used to price two thirds of the world's internationally traded crude oil supplies.
West Texas Intermediate
The US benchmark crude oil; of high quality and produces a lot of petrol.
OPEC basket price
A basket of seven crude oil prices, to which OPEC has tied its production activity.
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