Since the mid 70s oil crisis, the US has banned the export of oil to other nations to keep the home market fuelled up. They have allowed oil to be imported to fill the tanks though. US oil is mostly heavy although down south it is light and so many refineries are geared to the heavier sulphur laden crude. For the past few years, oil prices have tumbled as OPEC has increased … [Read more...]
How Much Oil in a Barrel?
Every time the news is on we hear about the price of oil because this commodity is so entrenched in everyone's lives, whether you drive or not. So many products come out of a barrel of oil or use a component refined from crude oil. The barrel as a measurement tool has been around for hundreds of years as it was easy to transport and measure at the same time. However, … [Read more...]
Light, Heavy, Sweet or Sour?
As the famous Castrol advertisement suggests: Oils ain't oils! There are big differences between light and heavy crude oil and it can also be sweet or sour as well. Crude Oil, or "petroleum" as it is also called is the raw material found in the ground. Petroleum is actually a Latin word, showing how long humans have used it! To help distinguish between light and heavy the … [Read more...]