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Oil Price Information Service (OPIS) is a price reporting agency which provides information that is used for commercial contracts and trade settlement related to petroleum, gasoline, diesel, ethanol, biodiesel, LP-gas, jet fuel, crude, natural gas, petrochemicals, recycled plastics, refinery feedstocks, residual fuel, and kerosene.
A sample of synthetic motor oil Synthetic oil is a lubricant consisting of chemical compounds that are artificially modified or synthesised. Synthetic oil is used as a substitute for petroleum-refined oils when operating in extreme temperature, in metal stamping to provide environmental and other benefits, and to lubricate pendulum clocks .
If you use a translated edition of a book, make sure to adjust the page numbers to those in the translation. Partial translation: If portions of an article appear to be low-quality or unverifiable, use your judgment and do not translate those portions. Once you have finished translating, you may ask a proofreader to check the translation.
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 ...
Oil prices will fall to an average of $65 per barrel in 2025 amid an oversupply of crude and a backdrop of slowing demand as countries shift toward cleaner energies and forms of transportation, ...
By the mid-1980s, recommended viscosities had moved down to 5W-30, primarily to improve fuel efficiency. A typical modern application would be Honda motor's use of 5W-20 (and in their newest vehicles, 0W-20) viscosity oil for 12,000 kilometres (7,500 mi).
The oil fails the test at a particular temperature if the oil is too viscous. The grade of the oil is that associated with the coldest temperature at which the oil passes the test. For example, if an oil passes at the specified temperatures for 10W and 5W, but fails at the 0W temperature, the oil is grade 5W. It cannot be labeled 0W or 10W.
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).