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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 .
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.
The oil prices were seen rising to hit $71.38 per barrel in March 2021, marking the highest since the beginning of the pandemic in January 2020. [116] The oil price rise followed a missile drone attack on Saudi Arabia's Aramco oil facility by Yemen’s Houthi rebels. [117] The United States said it was committed to defending Saudi Arabia. [118]
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).
Mobil 1 is a brand of synthetic motor oil and other automotive lubrication products. Originally developed by the Mobil oil company, it is now globally marketed and sold by ExxonMobil. Mobil 1 engine oil was introduced in 1973. [1] The brand range now includes a variety of engine oils, oil filters, chassis grease, transmission fluids, and gear ...
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC members. It is used as an important benchmark for crude oil prices. OPEC has often attempted to keep the price of the OPEC Basket between upper and lower limits, by increasing and decreasing production.
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