Sweet crude oil

Sweet crude oil

Sweet crude oil is a type of petroleum. Petroleum is considered "sweet" if it contains less than 0.5% sulfur, [BBC News. [http://news.bbc.co.uk/2/hi/business/904748.stm "Oil markets explained"] . July 14, 2003.] compared to a higher level of sulfur in sour crude oil. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High quality, low sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in the industrialized nations. "Light sweet crude oil" is the most sought-after version of crude oil as it contains a disproportionately large amount of these fractions that are used to process gasoline, kerosene, and high-quality diesel. The term "sweet" originated because the low level of sulfur provides the oil with a mildly sweet taste and pleasant smell. Nineteenth century prospectors would taste and smell small quantities of the oil to determine its quality. Fact|date=August 2008

Producers

Producers of sweet crude oil include:

*Algeria
*Angola
*Australia
*Brunei
*Canada
*China
*Denmark
*Indonesia
*Libya
*Malaysia
*Nigeria
*Norway
*Sudan
*United Kingdom (Brent Crude)
*United States (Louisiana Sweet)
*United States (West Texas Intermediate a.k.a. Texas Sweet Light)
*Zaire
*India

Pricing

The term "price of oil", as used in the US media, generally means the cost per barrel (42 US gallons) of West Texas Intermediate Crude, to be delivered to Cushing, Oklahoma during the upcoming month. [http://www.nymex.com/lsco_fut_descri.aspx Light Sweet Crude Futures (Description)] , NYMEX; [http://www.nymex.com/CL_spec.aspx Light Sweet Crude Futures (Specifications)] , NYMEX] This information is available from NYMEX ( [http://www.nymex.com NYMEX website] ) or from the US Energy Information Administration ( [http://www.eia.doe.gov/emeu/international/oilprice.html EIA oil prices] )

ee also

* Petroleum Classification
** Light crude oil
** Brent Crude
**West Texas Intermediate
** Sour crude oil
** Mazut
* Oil price increases since 2003

References


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