Types of crude oil : 4 major types of crude oil Very light oil. This type tends to be very volatile, evaporating in just a few days, which makes it less toxic. Very… Light oil. This type is moderately toxic and volatile. It is mainly used for the following crude oil products: fuel oils… Medium oil. The most common …
Types of Crude Oil
Oil investors are typically worried about their oil’s quality and the area it originates from. This is because crude oil is formed in different ways because of the geography of the places.
Oil prices are based on geopolitics, natural events and other organizational factors that determine supply, production and demand.
The oil industry, as well as regulators, make use of crude oil’s density and sulphur content to categorize it into various groups.
Fat is classified according to either sweet or acidic sulphur content and by density, which is either light or heavy. Utilizing these two categories and creating a middle group, oil is divided into six classes by investors and the industry:
- Heavy/Sweet
- Heavy/Sour
- Medium/Sweet
- Medium Sour
- Light/Sweet
- Light/Sour
Heavy oils are used to produce industrial products such as asphalt or plastics. Medium oils contain sulphur which is in the middle between light and heavy.
Light oils are typically employed in diesel, gasoline and aviation fuels because they require less processing. Sour crude contains more carbon and sulphur than light crude and needs more refining, making it more expensive.
The U.S. Energy Information Administration has produced a graph showing where the bulk of crude oil comes from and the kinds of crude oil found in those regions.
To be used for investing, the classification based on the weight, geography and sulphur content is essential since these factors impact the price most.
But, some investors may take note of the Environmental Protection agency’s (EPA) classifications, which are based on the toxicity levels and changes in the state.
FAQ types of crude oil
Q.1 How many types of crude oil are there?
ANS. It is mainly used for the following crude oil products: the heaviest 3, 4, 5 and 6 fuel oils and heavy marine fuel. Did you know that there are over 160 different types of crude oil traded on the market? West Texas Intermediate (WTI), Brent Crude, OPEC Reference Basket, Dubai Crude, Bonny Light and Urals are just six of many.
Q.2 What is Class A crude oil?
ANS. This type of crude oil has a strong smell, high evaporation rate, and is typically flammable. Most refined products and a lot of high-quality, light crude oils are included in Class A. Despite how valuable they are, Class A oils can be extremely toxic to humans, animals, and other organisms.
Q.3 What are the different types of engine oils?
ANS. Light oils – These include Grade 1 and Grade 2 Fuel Oils, Diesel Fuel Oils as well as Most Domestic Fuel Oils. They are both moderately volatile and toxic. Medium oils – These are the most common types of Crude Oil.
Q.4 What is the composition of crude oil?
ANS. Updated November 04, 2018. Liquid petroleum pumped from oil wells is called “crude” or “crude oil.”. Composed predominantly of carbon, crude oil contains approximately 84 to 87 percent carbon and 11 to 13 percent hydrogen. Crude oil also contains varying amounts of oxygen, sulfur, nitrogen, and helium.
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