One unexpectedly hit high-quality light crude oil, enough to produce 100 barrels a day.
That's because non-OPEC producers pumped more valuable light crude to counteract the effects of OPEC's cheating.
It can be called: lease-condensate, ultra-light crude, naphtha or natural gasoline, depending on who is naming it.
As a result prices for sweet light crude tends to be higher than heavier or sour crudes.
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Oil prices dropped in Asia, with US light crude down by 1.9%, and Brent crude sliding 1.6%.
But not necessarily in the proportions that a diet of light crude into the refineries would provide.
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Further, heavy crude oils do not produce as much gasoline or fuel oil as light crude oil.
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This while Brent and West Texas light crude are the bench marks, they are top of the market.
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Further the number of gallons of gasoline produced per barrel heavy crude oil is lower than for light crude oils.
Bakken crude is a sweet, light crude that typically has a gravity of 40 to 42 degrees, ideal for most U.S. refineries.
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World production of sweet light crude oils occurred a few years ago.
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Sweet light crude oil yields the most gallons of gasoline per barrel of oil and since it has low viscosity and low density, it is comparatively inexpensive to pump, transport, and refine.
Libyan exports were largely-composed of light sweet crude, which is what U.S. produces.
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The U.S. will release 30 million barrels of light sweet crude from its Strategic Petroleum Reserve over next 30 days.
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Light sweet crude is depleting quickly, and now the industry is going after heavy crude and tar sands and thermally enhanced oil.
Its current 50% discount off light, sweet crude was, until recently, unheard of.
Currently the SPR is the fullest it has ever been, with 727 million barrels of mostly light, sweet crude in storage.
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The oil, from producers in western Canada, is gooey, acidic and high in sulfur--harder to refine than benchmark West Texas Intermediate (light, sweet) crude.
So more profits are generated per barrel of sweet, light than heavier or sour crude oils.
The ongoing conflict there has resulted in the removal from global markets of roughly 1.6 million barrels per day of light, sweet high-quality crude oil a total of more than 150 million barrels displaced since the conflict began.
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North Sea Brent and WTI, the two benchmark crude oils are both sweet, light.
This will help Exxon maintain its production momentum in light of low natural gas prices and high crude oil prices.
Without any intervention from politicians or environmentalists societies that progress have been using m ore fuels that have less carbon with higher energy density (1 kg of wood fuels a light bulb for 1 day, 1 kg of coal fuels a light bulb for 4 days, 1 kg of crude oil for 5 days, 1kg of methane for 6 days and 1 kg of uranium for over 140 years).
Competition will be tough: tariffs on the new pipeline are ten times lower than for the line through Chechnya, and the crude oil received at Supsa, known as Azeri Light, is of higher quality than Russia's Urals Blend that flows via Novorossiisk.
Rockefeller, for instance, revolutionized the refining of crude oil into kerosene, enabling Americans to cheaply and safely light their homes at night.
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World crude oil production has in some cases already peaked (sweet, light) while others (heavy, sour) it has yet to be will soon.
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