Barrels Rule:
While barrels are known, lesser-known are the specific types like the "Tianjin barrels" used in Chinese markets
While barrels are known, lesser-known are the specific types like the "Tianjin barrels" used in Chinese markets
Unexpected Measures:
Ever heard of the "Petrojoule"? It's an energy-based unit for oil trade
Ever heard of the "Petrojoule"? It's an energy-based unit for oil trade
Ancient Units:
Before barrels, oil was often traded in units like "amphoras" and "koyos.
Before barrels, oil was often traded in units like "amphoras" and "koyos.
Metric Mania:
In Europe, the "tonne" and "cubic meters" take precedence over barrels.
In Europe, the "tonne" and "cubic meters" take precedence over barrels.
Local Preferences:
Some regions rely on units like the "koku" in Japan or the "picul" in East Asia for trade
Some regions rely on units like the "koku" in Japan or the "picul" in East Asia for trade
Odd Volumes:
Uncommon measurements like the "drum" or "cask" occasionally find use in specific trades.
Uncommon measurements like the "drum" or "cask" occasionally find use in specific trades.
Weight Matters:
The "ton of oil equivalent (TOE)" measures energy and not volume but is vital in energy markets.
The "ton of oil equivalent (TOE)" measures energy and not volume but is vital in energy markets.
Standardization Stories:
The "m³" or cubic meters are increasingly becoming a global standard.
The "m³" or cubic meters are increasingly becoming a global standard.
Historical Context:
The "hogshead" was an older unit, once used for both oil and other commodities.
The "hogshead" was an older unit, once used for both oil and other commodities.
Conversion Quirks:
Cords" used in the wood industry are sometimes used for estimating large oil volumes.
Cords" used in the wood industry are sometimes used for estimating large oil volumes.
Eastern Influence:
The "koku" was historically used in Japan and equaled about 180 liters.
The "koku" was historically used in Japan and equaled about 180 liters.
Industry Jargon:
The "tanker load" refers to specific volumes carried by tanker ships.
The "tanker load" refers to specific volumes carried by tanker ships.
Uncommon Pairings:
The "tonne of oil equivalent" sometimes coexists with traditional barrel measurements.
The "tonne of oil equivalent" sometimes coexists with traditional barrel measurements.
Legal Specifications:
The "bbl/d" (barrels per day) measure the production rate, crucial in the oil industry.
The "bbl/d" (barrels per day) measure the production rate, crucial in the oil industry.
Future Innovations:
Emerging measures like "standardized oil units (SOU)" could revolutionize trade measurements.
Emerging measures like "standardized oil units (SOU)" could revolutionize trade measurements.
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