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Concept
Sweet crude oil
Summary
Sweet crude oil is a type of petroleum. The New York Mercantile Exchange designates petroleum with less than 0.5% sulfur as sweet.
Petroleum containing higher levels of sulfur is called sour crude oil.
Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations. Light sweet crude oil is the most sought-after version of crude oil as it contains a disproportionately large fraction that is directly processed (fractionation) into gasoline (naphtha), kerosene, and high-quality diesel (gas oil).
The term sweet originates from the fact that a low level of sulfur provides the oil with a relatively sweet taste and pleasant smell, compared to sulfurous oil. Nineteenth-century prospectors would taste and smell small quantities of oil to determine its quality.
Producers of sweet crude oil include:
Asia/Pacific:
The Far East/Oceania:
Australia
Brunei
China
India
Indonesia
Malaysia
New Zealand
Vietnam
The Middle East
Iraq
Saudi Arabia
United Arab Emirates
North America:
Canada
United States
Europe:
Russia
Azerbaijan
The North Sea area:
Norway
United Kingdom (Brent Crude)
England
Scotland
Africa:
North Africa:
Algeria
Libya
Western Africa
Nigeria
Ghana
Central Africa
Angola
Democratic Republic of the Congo
Republic of the Congo
South Sudan
South America:
The Guianas:
Suriname, Guyana Basin
Andean Region
Colombia
Peru
Southern Cone
Argentina
Brazil
Price of petroleum
The term "price of oil", as used in the U.S. media, generally means the cost per barrel (42 U.S. gallons) of West Texas Intermediate Crude, to be delivered to Cushing, Oklahoma during the upcoming month. This information is available from NYMEX or the U.S. Energy Information Administration.
Official source
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