Barrel (unit) in the context of "Barrel of oil equivalent"

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel in 2008 dollars. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008. Commentators attributed these price increases to multiple factors, including Middle East tension, soaring demand from China, the falling value of the U.S. dollar, reports showing a decline in petroleum reserves, worries over peak oil, and financial speculation.

For a time, geopolitical events and natural disasters had strong short-term effects on oil prices, such as North Korean missile tests, the 2006 conflict between Israel and Lebanon, worries over Iranian nuclear plans in 2006, Hurricane Katrina, and various other factors. By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession. The recession caused demand for energy to shrink in late 2008, with oil prices collapsing from the July 2008 high of $147 to a December 2008 low of $32. However, it has been disputed that the laws of supply and demand of oil could have been responsible for an almost 80% drop in the oil price within a six-month period. Oil prices stabilized by August 2009 and generally remained in a broad trading range between $70 and $120 through November 2014, before returning to 2003 pre-crisis levels by early 2016, as US production increased dramatically. The United States went on to become the largest oil producer by 2018.

This list of oil fields includes some major oil fields of the past and present.

The list is incomplete; there are more than 25,000 oil and gas fields of all sizes in the world. However, 94% of known oil is concentrated in fewer than 1,500 giant and major fields. Most of the world's largest oilfields are located in the Middle East, but there are also super giant (5 billion bbls) oilfields in Brazil, Mexico, Venezuela, Kazakhstan, and Russia.

The Płock refinery is a large oil refinery and petrochemical complex located in Płock, Poland. It is owned by PKN Orlen, and is one of the two major crude oil refineries in Poland, the other one is Gdansk refinery. The refinery has a Nelson complexity index of 9.5 and a capacity is 16.3 million tonnes per year or 276,000 barrels per day of crude oil.

Beer distribution worldwide has several different steps, ranging from the production of supplies used in the making of beer to selling it in stores, with many separate interactions in between. In general, beer distribution can be shown by a three tiered or two tiered model of distribution, with most of the world partaking in the latter.

Even with a slow decrease in the sale of beer over the last five years., beer is still one of the most common beverages throughout the world, making its distribution very important worldwide, with approximately 202,200,000 barrels being sold in 2018, equal to 8.5 trillion gallons of beer. Beer sales are most common in areas throughout Europe as well as America.

This is a reverse-chronological list of oil spills that have occurred throughout the world and spill(s) that are currently ongoing. Quantities are measured in tonnes of crude oil with one tonne roughly equal to 308 US gallons, 256 Imperial gallons, 7.33 barrels, or 1165 litres. This calculation uses a median value of 0.858 for the specific gravity of light crude oil; actual values can range from 0.816 to 0.893, so the amounts shown below are inexact. They are also estimates, because the actual volume of an oil spill is difficult to measure exactly.

From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. Then, during 2004, the price rose above $40, and then $60. A series of events led the price to exceed $60 by August 11, 2005, leading to a record-speed hike that reached $75 by the middle of 2006. Prices then dropped back to $60/barrel by the early part of 2007 before rising steeply again to $92/barrel by October 2007, and $99.29/barrel for December futures in New York on November 21, 2007. Throughout the first half of 2008, oil regularly reached record high prices. Prices on June 27, 2008, touched $141.71/barrel, for August delivery in the New York Mercantile Exchange, amid Libya's threat to cut output, and OPEC's president predicted prices may reach $170 by the Northern summer. The highest recorded price per barrel maximum of $147.02 was reached on July 11, 2008. After falling below $100 in the late summer of 2008, prices rose again in late September. On September 22, oil rose over $25 to $130 before settling again to $120.92, marking a record one-day gain of $16.37. Electronic crude oil trading was temporarily halted by NYMEX when the daily price rise limit of $10 was reached, but the limit was reset seconds later and trading resumed. By October 16, prices had fallen again to below $70, and on November 6 oil closed below $60. Then in 2009, prices went slightly higher, although not to the extent of the 2005–2007 crisis, exceeding $100 in 2011 and most of 2012. Since late 2013 the oil price has fallen below the $100 mark, plummeting below the $50 mark one year later.

As the price of producing petroleum did not rise significantly, the price increases have coincided with a period of record profits for the oil industry. Between 2004 and 2007, the profits of the six supermajors – ExxonMobil, Total, Shell, BP, Chevron, and ConocoPhillips – totaled $494.8 billion. Likewise, major oil-dependent countries such as Saudi Arabia, the United Arab Emirates, Canada, Russia, Venezuela and Nigeria have benefited economically from surging oil prices during the 2000s.

Energy in Saudi Arabia involves petroleum and natural gas production, consumption, and exports, and electricity production. Saudi Arabia is the world's leading oil producer and exporter.Saudi Arabia's economy is petroleum-based; oil accounts for 90% of the country's exports and nearly 75% of government revenue.The oil industry produces about 45% of Saudi Arabia's gross domestic product, against 40% from the private sector. Saudi Arabia has per capita GDP of $20,700. The economy is still very dependent on oil despite diversification, in particular in the petrochemical sector.

For many years the Kingdom of Saudi Arabia has been the world's largest petroleum producer and exporter. In 2011 it pumped about 1.7142 million m (10.782 million bbl) per day of petroleum. While most of this is exported, domestic use is rapidly increasing, primarily for electricity production.Saudi Arabia also has the largest, or one of the largest, proven crude oil reserves (i.e. oil that is economically recoverable) in the world (18% of global reserves, over 41 billion m (260 billion bbl)).

The United States is the largest producer of petroleum in the world.Petroleum has been a major industry in the United States since the 1859 Pennsylvania oil rush around Titusville, Pennsylvania. Commonly characterized as "Big Oil", the industry includes exploration, production, refining, transportation, and marketing of oil and natural gas products. The leading crude oil-producing areas in the United States in 2023 were Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico.

The United States became the largest producer of crude oil of any nation in history in 2023. Natural gas production reached record highs. Employment in oil and gas extraction peaked at 267,000 in March 1982, and totaled 199,500 in March 2024.

Dubai Crude is a medium sour crude oil extracted from Dubai. Dubai Crude is used as a price benchmark or oil marker because it is one of only a few Persian Gulf crude oils available immediately. There are two other main oil markers: Brent Crude and West Texas Intermediate.

Dubai Crude is generally used for pricing Persian Gulf crude oil exports to Asia. The Dubai benchmark is also known as Fateh, used in the United Arab Emirates. Forward trade of Dubai Crude is limited to one or two months.