Crude oil is a type of fossil fuel that is refined into usable products such as gasoline, diesel, and other petrochemicals. It is a finite resource since it is a nonrenewable resource that cannot be replaced naturally at the rate at which people utilise it.
Crude oil is a raw natural resource mined from the ground and processed into gasoline, jet fuel, and other petroleum products. Crude oil is a worldwide commodity that trades on global markets as both spot oil and through derivatives contracts. Because crude oil is currently the primary source of energy generation, many economists believe it to be the world’s most important commodity.
After crude oil is extracted from the ground, it is transported to a refinery, where various components of the crude oil are separated and converted into usable petroleum products. Gasoline, distillates such as diesel fuel and heating oil, jet fuel, petrochemical feedstocks, waxes, lubricating oils, and asphalt are examples of petroleum products. Here is a list of some more products of crude oil.
Fuel Products
Other Products:
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