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Verda.Majo (talk | contribs) Created page with "'''Petroleum''', also known as '''crude oil''' or simply '''oil''' in its liquid state, is a substance formed by the decomposition of organic material over time. While referred to as crude oil in its liquid form, broader definitions of petroleum can also refer to natural gas or bitumen.<ref>{{Citation|year=1990|title=Petroleum fundamentals glossary|title-url=https://archive.org/details/petroleumfundame0000unse/page/19/mode/1up|publisher=The University of Texas at..." Tag: Visual edit |
Verda.Majo (talk | contribs) added an image showing world proven crude oil reserves by region Tag: Visual edit |
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[[File:World proven crude oil reserves by region, 2019.png|alt=A graph showing 2019 data about the world's proven crude oil reserves. The Middle East tops the chart at 48.3% of the world's total. South and Central America stands at 18.8%. Next follows: North America (13.7%), Russia and CIS (8.4%), Africa (7.2%), Asia/Pacific (2.8%) and Europe (0.8%). Additional information is included showing the percentage of the regional totals held by particular countries and the OPEC members' share of the world total.|thumb|A chart depicting the world's proven crude oil reserves by region in 2019. ]] | |||
'''Petroleum''', also known as '''crude oil''' or simply '''oil''' in its liquid state, is a substance formed by the decomposition of organic material over time. While referred to as crude oil in its liquid form, broader definitions of petroleum can also refer to [[natural gas]] or [[bitumen]].<ref>{{Citation|year=1990|title=Petroleum fundamentals glossary|title-url=https://archive.org/details/petroleumfundame0000unse/page/19/mode/1up|publisher=The University of Texas at Austin}}</ref><ref>{{Citation|author=Wilbur Cross|year=1983|title=Petroleum|title-url=https://archive.org/details/petroleum00cros/}}</ref><ref name=":0">{{Web citation|newspaper=National Geographic|title=Petroleum|url=https://education.nationalgeographic.org/resource/petroleum/}}</ref> Petroleum is widely used in the manufacturing of thousands of products as well as being burned as a source of fuel.<ref name=":0" /> It is a [[fossil fuel]] and a [[Non-renewable resources|non-renewable]] [[Natural resource|resource]].<ref name=":0" /> Petroleum is a strategically significant resource due to a variety of considerations, including its material qualities as well as its function in the [[petrodollar]] system.<ref>{{Web citation|author=Prabhat Patnaik|newspaper=MR Online|title=Oil and the world economy|date=2026-04-07|url=https://mronline.org/2026/04/07/oil-and-the-world-economy/}}</ref> | '''Petroleum''', also known as '''crude oil''' or simply '''oil''' in its liquid state, is a substance formed by the decomposition of organic material over time. While referred to as crude oil in its liquid form, broader definitions of petroleum can also refer to [[natural gas]] or [[bitumen]].<ref>{{Citation|year=1990|title=Petroleum fundamentals glossary|title-url=https://archive.org/details/petroleumfundame0000unse/page/19/mode/1up|publisher=The University of Texas at Austin}}</ref><ref>{{Citation|author=Wilbur Cross|year=1983|title=Petroleum|title-url=https://archive.org/details/petroleum00cros/}}</ref><ref name=":0">{{Web citation|newspaper=National Geographic|title=Petroleum|url=https://education.nationalgeographic.org/resource/petroleum/}}</ref> Petroleum is widely used in the manufacturing of thousands of products as well as being burned as a source of fuel.<ref name=":0" /> It is a [[fossil fuel]] and a [[Non-renewable resources|non-renewable]] [[Natural resource|resource]].<ref name=":0" /> Petroleum is a strategically significant resource due to a variety of considerations, including its material qualities as well as its function in the [[petrodollar]] system.<ref>{{Web citation|author=Prabhat Patnaik|newspaper=MR Online|title=Oil and the world economy|date=2026-04-07|url=https://mronline.org/2026/04/07/oil-and-the-world-economy/}}</ref> | ||
Revision as of 23:28, 18 April 2026
Petroleum, also known as crude oil or simply oil in its liquid state, is a substance formed by the decomposition of organic material over time. While referred to as crude oil in its liquid form, broader definitions of petroleum can also refer to natural gas or bitumen.[1][2][3] Petroleum is widely used in the manufacturing of thousands of products as well as being burned as a source of fuel.[3] It is a fossil fuel and a non-renewable resource.[3] Petroleum is a strategically significant resource due to a variety of considerations, including its material qualities as well as its function in the petrodollar system.[4]
See also
References
- ↑ Petroleum fundamentals glossary (1990). The University of Texas at Austin.
- ↑ Wilbur Cross (1983). Petroleum.
- ↑ 3.0 3.1 3.2 "Petroleum". National Geographic.
- ↑ Prabhat Patnaik (2026-04-07). "Oil and the world economy" MR Online.