Arab Extra Light
Arab Extra Light Price
|Date||Price US$ per bbl||Price US $ per MT||Long Tons||US Gallons,$|
Arab Extra Light Historical price
- In 2017 maximum price $65 per bbl (2017-12-26)
- In 2018 maximum price $50 per bbl (2018-12-26)
- In 2019 maximum price $72 per bbl (2019-12-26)
- In 2020 maximum price $51 per bbl (2020-12-25)
- In 2021 maximum price $79 per bbl (2021-12-24)
- In 2022 maximum price $87 per bbl (2022-12-26)
- In 2023 maximum price $84 per bbl (2023-02-17)
Arab Extra Light Crude Oil: Characteristics, Uses and Production
As one of the most in-demand and widely-used commodities globally, crude oil is a vital resource that powers the world's economy. Among the different types of crude oil, Arab Extra Light is an essential variety with unique characteristics and uses. In this article, we will discuss what Arab Extra Light crude oil is, its characteristics, its uses, and its production.
What is Arab Extra Light Crude Oil?
Arab Extra Light (AEL) is a high-quality crude oil sourced from the Middle East, specifically Saudi Arabia. As the name implies, it is a lighter type of crude oil with an API gravity of 39.2 degrees and a sulfur content of 0.63%. This makes it a highly sought-after crude oil variety for its low sulfur content, making it ideal for refining into high-value products.
Characteristics of Arab Extra Light Crude Oil
As mentioned earlier, Arab Extra Light is a lighter type of crude oil compared to other varieties. Its low sulfur content and high API gravity make it highly valuable for refiners looking to produce high-quality petroleum products like gasoline and diesel fuel.
Arab Extra Light also has a relatively low density and viscosity, which means it flows more freely compared to heavier crude oils. This characteristic makes it easier to transport and process, contributing to its popularity in the global market.
Uses of Arab Extra Light Crude Oil
Due to its high quality and low sulfur content, Arab Extra Light is highly valued in the refining industry. Its main use is in producing high-value products like gasoline, diesel fuel, and jet fuel. It is also used to make petrochemicals, which are used in manufacturing a wide range of products like plastics, chemicals, and fertilizers.
Production of Arab Extra Light Crude Oil
Arab Extra Light crude oil is produced by the Saudi Arabian Oil Company, also known as Aramco. Aramco is one of the largest oil companies in the world, and it produces millions of barrels of crude oil each day.
The company extracts Arab Extra Light from oil fields located in the eastern region of Saudi Arabia, near the Persian Gulf. The crude oil is transported through pipelines to nearby refineries or loaded onto tankers for export to other countries.
Arab Extra Light crude oil is a high-quality and valuable commodity with unique characteristics and uses. Its low sulfur content and high API gravity make it an ideal crude oil variety for refining into high-value products like gasoline, diesel fuel, and jet fuel. As one of the leading crude oil producers in the world, Aramco plays a critical role in producing and supplying Arab Extra Light to the global market.
Frequently Asked Questions (FAQs)
- What is the difference between Arab Extra Light and other crude oil varieties?
Arab Extra Light is a lighter type of crude oil compared to other varieties. It has a low sulfur content and high API gravity, making it easier to refine into high-value products like gasoline, diesel fuel, and jet fuel.
- How is Arab Extra Light crude oil transported to other countries?
Arab Extra Light crude oil is transported to other countries via oil tankers. The crude oil is loaded onto tankers at ports located near the oil fields in Saudi Arabia and shipped to various countries around the world.
- What are the environmental implications of using Arab Extra Light crude oil?
While Arab Extra Light is a high-quality and low-sulfur crude oil, burning any type of fossil fuel, including crude oil, contributes to greenhouse gas emissions and air pollution. The environmental impact of using Arab Extra Light crude oil depends on how it is refined and used.
- How does the price of Arab Extra Light crude oil compare to other varieties?
The price of Arab Extra Light crude oil is influenced by global supply and demand factors and is typically priced at a premium compared to other crude oil varieties due to its high quality and low sulfur content.
- What is the future outlook for Arab Extra Light crude oil?
As demand for energy continues to rise globally, the outlook for Arab Extra Light crude oil is positive. Its high quality and low sulfur content make it an ideal crude oil variety for producing high-value products, and its availability and production capacity are expected to remain steady in the coming years.
Overall, Arab Extra Light crude oil is a valuable and in-demand commodity that plays a critical role in powering the global economy. As the world's energy needs evolve, the importance of high-quality crude oil varieties like Arab Extra Light will only continue to grow.