Oil and Petroleum Industry

Fun fact: Oil is not the same around the world. It can be light or heavy based on its density. Crude oils that are light (higher degrees of API gravity, or lower density) and sweet (low sulfur content) are usually priced higher than heavy, sour crude oils.This is partly because gasoline and diesel fuel, which typically sell at a significant premium to residual fuel oil and other "bottom of the barrel" products, can usually beand other "bottom of the barrel" products, can usually be more easily and cheaply produced using light, sweet crude oil . The light sweet grades are desirable because they can be processed with far less sophisticated and energy-intensive processes/refineries.