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The task of converting a standard barrel of oil to a standard cubic metre of oil is complicated by the fact that the latter is defined by the API to mean the amount of oil that, at different reference conditions (101.325 kPa and 15 °C (59.0 °F)), occupies 1 cubic metre. The fact that the refence conditions are not exactly the same means that ...
Metric regions commonly use the tonne of oil equivalent (toe), or more often million toe (Mtoe). 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).
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.
U.S. energy giant Chevron expects 1 million barrels of oil equivalent per day from Kazakhstan's Tengiz oil field, which is among the world's biggest. Meanwhile, an Exxon executive downplayed hopes ...
Many drums nominally measure just under 880 millimetres (35 in) tall with a diameter just under 610 millimetres (24 in), and have a common nominal volume of 208 litres (55 US gal) whereas the barrel volume of crude oil is 42 US gallons (159 L). In the United States, 25-US-gallon (95-litre) drums are also in common use and have the same height.
MMbod – million barrels of oil per day; MMboe – million barrels of oil equivalent; MMboed – million barrels of oil equivalent per day; MMbpd – million barrels per day; MMcf – million cubic feet (of natural gas) MMcfe – million cubic feet (of natural gas equivalent) MMcfge – million cubic feet (of natural gas equivalent)
If a few of these factors combine, then crude could catapult well past $100 a barrel in the next few years. 12 Ways Oil Could Reach $100 a Barrel by 2020 Skip to main content
Brent crude futures have seen a similar rise of more than 30% over the same period, currently hovering above $94 per barrel. Citi's analysts see oil averaging $84 in the fourth quarter 2023 and ...