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Oil conversion factor from m³ to bbl (or stb) is 6.28981100; Gas conversion factor from standard m³ to scf is 35.314666721; Note that the m³ gas conversion factor takes into account a difference in the standard temperature base for measurement of gas volumes in metric and imperial units.
A barrel is one of several units of volume applied in various contexts; there are dry barrels, fluid barrels (such as the U.K. beer barrel and U.S. beer barrel), oil barrels, and so forth. For historical reasons the volumes of some barrel units are roughly double the volumes of others; volumes in common use range approximately from 100 to 200 ...
At recent market prices ($58 a barrel as of March 2021), [6] the SPR holds over $14.6 billion in sweet crude and approximately $18.3 billion in sour crude (assuming a $15/barrel discount for sulfur content). In 2012, the total value of the crude in the SPR was approximately $43.5 billion, while the price paid for the oil was $20.1 billion (an ...
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha.
Starting in January 2017, gasoline has been limited to an annual average of 10 ppm sulfur, with a maximum of 80 ppm allowed per batch at the refinery gate and up to 95 ppm downstream. [16] At this point, nearly all road and industrial fuels produced in the US have been substantially desulfurized to levels of 15 parts per million or less.
The million-barrel reserve only amounts to about 2.7 hours of total U.S. gasoline consumption, he said. “As an analyst, this reserve never really made a whole lot of sense to have,'' De Haan ...
The US is also witnessing a weaker trend in fuel consumption following a 2023 high in prices reached in mid-September. "Gasoline demand has been weak," said the EIA's Barron.
Gasoline prices have seen their biggest weekly decline of the year, but a spike at the pump could still come later this summer. On Tuesday, the national average for gasoline stood at $3.52 per ...