4 posts
First off, crude oil is classified into a few grades based on density, mainly categorized into light oil and heavy oil. Light oil, which has low density, is easy to refine, so the
Crude oil is graded by its impurity content, which dictates the price. More impurities mean it's more viscous and sticky, like tar. Oil with low impurities is called 'light crude,'
1. Oil. Saudi Arabia ranks 1st or 2nd globally in oil reserves. While the sheer volume is similar to Venezuela, Saudi oil quality is overwhelmingly superior, meaning Saudi Arabia w
1. Oil. Saudi Arabia ranks 1st or 2nd globally in oil reserves. While the sheer volume is similar to Venezuela, the quality of Saudi crude is overwhelmingly better, making Saudi oi
