Crude Oil means a mixture of mainly pentanes and heavier hydrocarbons that may be contaminated with sulphur compounds, which is recovered or is recoverable at a well from an underground reservoir. It is liquid at the conditions under which its volume is measured or estimated, and includes all other hydrocarbon mixtures so recovered or recoverable except raw gas, condensate or crude bitumen. For production measurement and reporting purposes, crude oil is deemed to be heavy if it has a density of 900 kg/m3 or greater, and light & medium or conventional if it has a density of less than 900 kg/m3.
Crude Oil is sold between countries in quantities called barrels (bbl). There are approximately 159 litres (42 US gallons) of oil in a barrel.
Crude postings are generally indicative as to how the market values certain crudes. Postings are posted by refineries and tend to be more like a bid to buy than an offer to sell and therefore are generally lower than market price.
International Energy Agency’s (IEA) monthly reports can be accessed from this site:
Click on “Download Full Report”
Total Crude Oil and Equivalent Production, Alberta
Marketable Natural Gas Production, Alberta
Successful Wells Drilled in Alberta
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