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Crude oil is classified as light, medium, or heavy according to its measured API gravity. Light crude oil has an API gravity higher than 31.1° (i.e., less than 870 kg/m 3) Medium oil has an API gravity between 22.3 and 31.1° (i.e., 870 to 920 kg/m 3) Heavy crude oil has an API gravity below 22.3° (i.e., 920 to 1000 kg/m 3)
The specific weight, also known as the unit weight (symbol γ, the Greek letter gamma), is a volume-specific quantity defined as the weight per unit volume of a material. A commonly used value is the specific weight of water on Earth at 4 °C (39 °F), which is 9.807 kilonewtons per cubic metre or 62.43 pounds-force per cubic foot.
#2 Heating oil price, 1986–2022 Kerosene inventory stock levels (United States), 1993–2022. Heating oil is known in the United States as No. 2 heating oil. In the U.S., it must conform to ASTM standard D396. Diesel and kerosene, while often confused as being similar or identical, must each conform to their respective ASTM standards. [3]
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
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