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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.