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The difference between oil and crude oil Oil is an industrial term, is relative to mineral resources, usually referred to as the petroleum industry, is a kind of mineral resources industry. In the course of petroleum exploration, oil reserves are calculated and determined according to the degree of exploration and proved situation. Oil reserves are
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'Saudi First' Policy Shakes US-Saudi Oil-for-Security Alliance After this battle, Saudi Arabia has full confidence in using its status as the world's largest oil exporter to shape OPEC+ policy. "We have gained an unprecedented victory from this matter and our confidence has increased," Prince Abdulaziz said. On April 2, 2023, Saudi Arabia once again played
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Behind the negative oil price event: the struggle for OPEC+ dominance At the beginning of the outbreak of the new crown epidemic in 2020, Saudi Arabia hoped to significantly reduce oil production capacity in response to the decline in oil prices, but Russia said it would "wait a little longer", and the two leaders of
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In 2014, international oil prices fell sharply, and the world's oil and gas industry entered a downturn cycle. The "four lows" (low price, low return, low investment, and low cost) will become new features of the oil and gas industry in the new era. 1. Global oil supply and demand will remain loose before 2020
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It is the properties of oil and the history of the oil market that really exerts its power. As the British scholar Susan Strange said, the important historical milestone is not the establishment of the Organization of the Petroleum Exporting Countries, but the effective intervention of OPEC in the market 10 years later. During this
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Petroleum products have a very wide range of roles and functions in social and economic development, and their refined products have penetrated into all aspects of people's lives and are inseparable. [6] Petroleum is a mixture of different hydrocarbon compounds. Through one-time processing, the simple physical method of atmospheric pressure and vacuum distillation is mainly
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Modern petroleum history began in 1846 when Abraham Kisner, living in Atlantic Canada, invented a method of extracting kerosene from petroleum. In 1852, the Polish Ignaci Lukasiewicz (Lgnacy·Ukasiewicz) invented the method of extracting kerosene using more readily available oil. The following year the first modern oil field opened near Klosnow in southern Poland. These inventions
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Refining Features (1) Refining production is the production of equipment flow. Oil flows through each equipment along the process sequence, and is decomposed into different fractions under different temperature, pressure, flow, and time conditions to complete each stage of product production. A set of devices can produce several different products at the same time, and