Crude Oil facts

While investigating facts about Crude Oil Price and Crude Oil Price Chart, I found out little known, but curios details like:

The Federation of Quebec Maple Syrup Producers has a “Fort Knox” vault of Maple Syrup. A barrel is worth about $1,200 or $2.88 per pound which is 10-18 times the value of U.S. crude oil.

how crude oil is formed?

Refining a 42 gallon barrel of crude oil yields 20gal gasoline, 7gal diesel, and 17gal of petroleum byproducts such as propane, ammonia and plastic material, totaling 44 gallons; a net gain of 2 gallons.

What crude oil stock to buy?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what crude oil is used for. Here are 50 of the best facts about Crude Oil News and Crude Oil Stock I managed to collect.

what's crude oil?

Crude oil comes chiefly from dead microorganisms, not dinosaurs
After Crude Oil, Coffee is the most sought commodity in the World.
Canada has a crude oil reserve over 4x the size of America's. North Korea has none.
In oil-rich Azerbaijan people bathe in crude oil believing it improves their health
Bunker fuel is the generic term given to any fuel poured into a ship’s bunkers to power its engines. Deep sea cargo ships typically burn the heavy, residual oil left over after gasoline, diesel and other light hydrocarbons are extracted from crude oil during the refining process. It's very toxic
Due to "processing gains" we get nearly 45 gallons of refined petroleum products from one 42-gallon barrel of crude oil, because refined products have a lower specific gravity than crude oil.
About an oil thriving mosquito that has a pupa stage entirely in naturally occurring petroleum pools. It's guts are filled with crude oil and bacteria that can process it!
As a result of processing crude oil in Canada, oil refiner Syncrude has created a ziggurat of waste sulfur that is over 100ft high and covers 25 acres...
Venezuela has the world's 2nd largest oil reserve. It is also one of the top crude exporters in the world.
The coastal areas of the Persian Gulf are considered to be the largest source of crude oil in the world.

crude oil facts — What's crude oil prices today?

Crude Oil data charts

For your convenience take a look at Crude Oil figures with stats and charts presented as graphic.

crude oil fact data chart about U.S. Crude Oil Imports & Democratic Attainment Among Exporti — U.S. Crude Oil Imports & Democratic Attainment Among Exporting Countries

crude oil fact data chart about Percentage change over time of Crude oil prices and Petrobra — Percentage change over time of Crude oil prices and Petrobras stocks

Why crude oil prices are falling?

You can easily fact check why crude oil is going down by examining the linked well-known sources.

There are five oil fields owned by the Cantarell Complex in the Bay of Campeche. By 2003 it was the world's second most productive oil field but it began to decline steeply afterwards. Up until then it had been supplying 2/3rds of the crude oil output in Mexico.

There are "sweet" and "sour" crude oil. The less sulfur content, the sweeter it is. Prospectors in the 1800's would actually taste a small quantity to differentiate the two. - source

In 1866 oil producers in Pennsylvania agreed upon a standard measurement for sales. The 40 gallon whisky barrel was the most common sized used but they went with the 42 gallon English wine barrel instead. 150 years later crude oil is still priced and sold by the 42 gallon barrel. - source

Helaeomyia petrolei, the Petroleum Fly, spends the first phase of its life swimming in crude oil

In 2017 Canada was the largest exporter of crude oil to the US and exported more crude to the US than every OPEC country combined - source

When crude oil was discovered?

An oil trader who went into his office and bought 7 million barrels of crude oil while blackout drunk, the volume of the trade caused the price of Brennt oil to rise sharply for a short moment.

How crude oil is extracted?

One man, while black out drunk,caused the price of Brent Crude oil to rise by over $1.50 a barrel within a short period of time, a trend generally associated with major geopolitical events.

A process that uses super-heated water to turn anything- usually waste products such as such garbage and leftover processed animal parts to convert biomass to light crude oil, called Thermal depolymerization.

The US imports 84% of their seafood, a $9 billion trade deficit 2nd only to crude oil.

The third largest unintentional oil spill in the world's history occurred in the Bay of Campeche in 1979. A massive explosion occurred after an exploratory oil well had a blowout. It is estimated that 300,000 barrels of crude oil spilled into the Gulf of Mexico as a result of the accident.

The Taylor oil spill, an ongoing oil spill in Louisiana that has been around since 2004, dumping hundreds of gallons of crude oil a day into the Gulf of Mexico

Crude oil infographics

Beautiful visual representation of Crude Oil numbers and stats to get perspecive of the whole story.

crude oil fact infographic about Import/Export statistics of crude oil and petroleum products — Import/Export statistics of crude oil and petroleum products. Data Source: PPAC, Gov. Of India. Period: 2018-2019.

crude oil fact infographic about Annual Average price of crude oil in the US shown with party — Annual Average price of crude oil in the US shown with party of the US president

When crude oil will run out?

The average person working 5 days a week for 11 years generates the same work energy as 1 barrel of crude oil.

In 1967 the supertanker SS Torrey Canyon ran aground off the coast of Cornwall, UK spilling 119,000 tonnes of crude oil into the English Channel - the UK's worst environmental disaster. The Government then ordered the Navy and RAF to scuttle the vessel by bombing it over the course of 2 days

Wyoming's major industry includes coal, natural gas, uranium, crude oil and coalbed methane, and tourism.

Synthetic motor oil is overwhelmingly still made from crude oil, and the term "full synthetic" is a marketing term that has no measurable quality or standard.

There is a place called the Togo Triangle in the Atlantic Ocean where millions of dollars of stolen crude oil is regularly bought and sold

How crude oil is refined?

Crude oil has a different price depending on the stock exchange quoted as there are different varieties of oil you can trade: Brent, Dubai, West Texas. So news about prices tend to be biased if they want to show a low or a high price

Saudi Aramco, the Saudi Arabian national petroleum and natural gas company has an estimated value of US$10 trillion making it the world's most valuable company. Saudi Aramco has total assets estimated at US$30 trillion, and the largest proven crude oil reserves at more than 260 billion barrels.

Synthetic motor oil is still made from crude oil, and the term “full synthetic” is a marketing term that isn’t bound by any measurable quality or standard.

I Learned There's Petroleum Products (Derived from Crude Oil) in Toothpaste, Shampoo and Soap

Soviet Union paid ABBA’s royalties in the form of fruit, vegetables and crude oil.

19th century prospectors would taste and smell small quantities of oil to determine its quality, hence the name "sweet crude oil"

Crude oil price (inflation adjusted to 2015) was the lowest in December 1998. It was only $12.45.

The USA maintains a Strategic Petroleum Reserve at four sites on the Gulf of Mexico, with a total capacity of 727 million barrels (115.6×106 m3) of crude oil.

Roch Thériault, a cult leader in 80s Canada, tried to cure a woman's stomach ache by jamming "a plastic tube up her rectum to perform a crude enema with molasses and olive oil" and then cutting her open and ripping "off part of her intestines with his bare hands."

in 2018, James Cordier from optionssellers.com lost the entire $150 million hedge fund he managed making a bad play on natural gas and crude oil. He didn't hedge properly and lost everything. He put out this apology video, offering to buy clients lunch. He forgot to take off his Rolex.

Lakeview Gusher" was the name given in 1910 to an out-of-control eruption of oil from a drilled well in Kern County, California. It created the largest accidental oil spill in history, spewing for 544 consecutive days, and releasing 9 million barrels (1.4 million cu. meters) of crude oil.

15 large container ships can create as much pollution as all the cars in the world. They use bunker fuel, which is the sulfur heavy residual oil leftover after crude oil refining.

In 1973 crude oil traded under $4 a barrel, a decades earlier in 1963 the market price was under $3 a barrel.

This is our collection of basic interesting facts about Crude Oil. The fact lists are intended for research in school, for college students or just to feed your brain with new realities. Possible use cases are in quizzes, differences, riddles, homework facts legend, cover facts, and many more. Whatever your case, learn the truth of the matter why is Crude Oil so important!