What is Crude Oil? - Explained

What is Crude Oil? Explained


Crude oil is a type of a commodity in the real world which does have a physical value. Crude oil isn't a finished product which is ready to use by the end consumer, but a product needs further refining to make it ready to use. Crude oil is the very first product which can be collected by the after drilling the earth core.

Crude oil is type of a non renewable energy source where-ever it used, it can be used only one time to generate energy. Compared to renewable energy sources, non-renewable energy sources like crude oil do have lot of characteristics which could negative impact on planet earth. 

Crude oil is traded on international markets as a commodity. Approximately 44% of the crude oil market share is by OPEC to the global demand. By using crude oil there are wide range of products produced to the end user such as petrol, diesel, kerosene, grease and etc which are used in multiple industries and so. There are many industries and organizations depending on crude oil and the sub products of crude oil including petrol and diesel. 

Unlike renewable energy sources there are bad things could happen while using crude oil. There are large number of harmful gases which emits when burning crude oil and the by products of crude oil. It's not sustainable to use crude oil in the long term for planet earth by considering the environmental and human health aspect.