FACTS ABOUT CRUDE OIL

Only using and not knowing anything about everything we use is not fair. xDirect endeavors to highlight some basic facts about crude oil we all should be aware of. After all it forms such an integral part of our lives.

So let’s start with something not so talked about. Crude oil is something that supports our lives in many ways.

Here are some facts about crude oil all its users should be aware of:

1-The unit in which crude oil is measured is barrels. This is equivalent to 42 US gallons or 139 litres.
 2- With 298.35 barrels of crude oil Venezuela stands as the number one crude oil reserve country in the world. US ranks as the 10th country in the world with 33 barrels.
 3- The country that consumes maximum oil is US. Their daily crude oil consumption is 1.85 billion barrels.
 4- 45% of crude oil is made up of gasoline.
 5- Crude gives us petrochemicals, a substance used in making electronic devices such as your mobile phones.
 6- Crude oil has varied uses. Some of them include making medicines, cosmetics and recreational sports goods.
 7- It is also referred to as ‘Black God,” or “Texas tea.”
 8- US has witnessed more than two dozen oil spill in the past 25 years.
 9- In ancient times oil was also used to bind materials and to seal surfaces to make them waterproof.
 10- Once the oil under the surface is reached it has the capacity to shoot dozens of meter up the ground.
 11- Oil is nothing hydrocarbon that is mostly found buried under seas or lakes lying under great pressure and heat.
 12- Crude oil can be of one of the following five kinds-

· West Texas Intermediate Oil- this is generally used as a benchmark in oil pricing.

· Light crude oil- this has low wax content.

· Sour crude- this is primarily processed into heavy oil such as diesel.

· Sweet crude- this is mostly processed into gasoline.

· Brent crude- this is the best oil for gasoline production.

Crude oils as the name suggests is crude as it is home to millions of hydrocarbons compounds. An oil refinery separates these hydrocarbons into separate units to be used individually.

To know this much about something we use so extensively in all spheres of our lives is not only essential but our responsibility too.

xDirect reviews the latest news on crude oil for regular updates and happenings.