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Since this is a measurement of mass, any conversion to barrels of oil equivalent depends on the density of the oil in question, as well as the energy content. Typically 1 tonne of oil has a volume of 1.08 to 1.19 cubic metres (6.8 to 7.5 bbl).
Both the 42-US-gallon (159 L) barrels (based on the old English wine measure), the tierce (159 litres) and the 40-US-gallon (150 L) whiskey barrels were used. Also, 45-US-gallon (170 L) barrels were in common use. The 40 gallon whiskey barrel was the most common size used by early oil producers, since they were readily available at the time.
A firkin was also a British unit for the sale of beer. It is one quarter of a barrel and its value depends on the current size of a barrel, but at present: [7] 1 firkin = 0.25 barrel = 9 imperial gallons = 10.8 U.S. gallons = 41 litres. A wine firkin was much larger: 1 wine firkin = 70 imperial gallons. [8]
Although crude oil is sometimes shipped in 55-US-gallon drums, the measurement standard of oil in barrels is based on the whiskey containers of the 1870s that measured 42 US gallons (35 imp gal; 159 L). [12] The measure of 42 US or wine gallons corresponds to a wine tierce (third-pipe). A wine barrel, or 1 ⁄ 8 tun, measures 31.5 US gallons ...
5.16 US gal.-Sixth of a US beer barrel. pony keg: 29.33 L: 7.75 US gal-1 ⁄ 4 US beer barrel. anker (US) 37.85 L: 10 US gal: 8.33 imp gal: An obsolete Dutch measurement, originally used for a small cask of wine or brandy. It was brought to the New World by the former Dutch colony of Nieuw Amsterdam (renamed to New York City by the English in ...
Earlier, another size of whiskey barrel was the most common size; this was the 40 US gallons (33.3 imp gal; 151.4 L) barrel for proof spirits, which was of the same volume as five US bushels. However, by 1866, the oil barrel was standardized at 42 US gallons. Oil has not been shipped in barrels [29] since the introduction of oil tankers, but ...
In US customary units, most units of volume exist both in a dry and a liquid version, with the same name, but different values: the dry hogshead, dry barrel, dry gallon, dry quart, dry pint, etc. The bushel and the peck are only used for dry goods. Imperial units of volume are the same for both dry and liquid goods. They have a different value ...
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 ...