API 27,5 - SULPHUR 2,92
Crude oil densities vary from Saudi Arabian fields, so a single specific gravity is not possible. However, for purposes of benchmarking crude, the Dubai crude is 31 degrees API (0.871).
Lower API crude requires treatment in high temperature and longer retention time to meet proper oil production specification Note - lower API (light crude) is free flowing while higher API (heavy crude) does not flow easily.
Heavy crude oil has a higher density and viscosity compared to light crude oil. Heavy crude oil also contains more impurities like sulfur and metals, which makes it more difficult and expensive to refine. Light crude oil is easier to extract, transport, and refine, making it more valuable in the market.
Saudi Arabia
Crude Oil, and petrochemical products.
Heavy crude oil is typically cheaper than light crude oil because it requires more processing to remove impurities and make it usable. This additional processing increases the overall cost of production, which is then reflected in the price of heavy crude oil compared to light crude oil. Additionally, heavy crude oil tends to have higher sulphur content, which can further increase the cost of refining.
SLCO is an acronym for Saudi Light Crude Oil.
$ 91,34/barrel
In 1977, the average price for a barrel of crude oil was $14.40 (about $60.00 in today's dollars).
Lots of countries have crude oil reserves. Russia, Saudi Arabia, the US, and Iran have the most crude oil reserves.
Saudi Arabia is the world's largest producer of crude oil.
Oil (Crude Oil)Like Diesel and Gasoline