Current location - Trademark Inquiry Complete Network - Futures platform - Why do international crude oil transactions take "barrels" as the unit of measurement?
Why do international crude oil transactions take "barrels" as the unit of measurement?
Because the ton is the unit of mass and the barrel is unit of volume, the density of crude oil is quite different (0.75 ~ 1), different results will be obtained if different units are used in crude oil trading.

Gallons and liters are two relatively small units of measurement for refined oil. Gas stations in western countries such as Europe and America are usually measured in gallons, while gas stations in China are priced in liters. The conversion relationship between liter and gallon is 1 liter =0.264 gallon. 1 gallon (USA) =3.7854 liters.

Countries such as the Organization of Petroleum Exporting Countries, Europe and America all use barrels as the unit of oil measurement, but countries such as China and Russian usually use tons (t) as the unit of crude oil measurement.

Extended data:

Oil is measured in barrels instead of tons, mainly for the convenience of technical operation. Because for an amazing batch of fluid goods such as oil, especially crude oil, in the metering operation, it is necessary to measure the volume (from the depth of liquid level+the design data of storage tank or cabin) first, then take the sample back to the laboratory, let it stand still, then measure the density, and correct the error before obtaining the formal quality data.

The official inspection report is as fast as a week and as slow as two months. In business operation, logistics and capital flow can't afford this time. Therefore, the use of volume measurement data for delivery is a last resort.

Baidu encyclopedia-petroleum measurement unit