Definition: Crude oil (without natural gas liquids) (Code 3105...

Category: Energy

Crude oil is a mineral oil of natural origin comprising a mixture of hydrocarbons and associated impurities such as sulphur. It exists in the liquid phase under normal surface temperature and pressure and its physical characteristics (density, viscosity, etc.) Are highly variable. Crude oil also includes field or lease condensate recovered from associated and non-associated gas where it is commingled with the commercial crude oil stream.