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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 ...
The Department of Energy unveiled plans to purchase oil at a price of $79 per barrel or less, but has since purchased oil at higher prices. As of April 2024, further purchases were cancelled due to rising oil prices. [10] [15] According to legislation already in place, the amount of oil in the reserve could fall to 238 million barrels by 2028. [16]
On average, about 74 liters (20 U.S. gal) of gasoline are available from a barrel of crude oil (about 46 percent by volume), varying with the quality of the crude and the grade of the gasoline. The remainder is products ranging from tar to naphtha .
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 ...
Crude oil prices spiked last week amid fears the Israel-Hamas war could broaden to other countries — namely Iran — a key global oil producer.. Despite last week's gains, prices are still ...
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.
Petroleum is used mostly, by volume, for refining into fuel oil and gasoline, both important primary energy sources. 84% by volume of the hydrocarbons present in petroleum is converted into fuels, including gasoline, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas. [90]
The U.S. Energy Information Administration defines the barrel of oil equivalent as about 6 gigajoules (1.7 megawatt-hours; 5.7 million British thermal units). [1] The value is necessarily approximate as various grades of oil and gas have slightly different heating values.