What Is 'Crude Oil'?

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Term of the Day | Words to Know Crude Oil Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. A type of fossil fuel, crude oil can be refined to produce usable products such as gasoline, diesel, and various other forms of petrochemicals. It is a nonrenewable resource, which means that it can't be replaced naturally at the rate we consume it and is, therefore, a limited resource. Read More » Related to "Crude Oil" What Determines Oil Prices? Understand the economic factors and other market forces that impact oil prices. Read More » How Crude Oil Affects Gas Prices Learn about the origins of oil, how its price is determined, and what effect its correlation with gas prices has on the global economy. Read More » Brent Crude vs. West Texas Intermediate: The Differences Brent Crude and West Texas Intermediate dominate the oil market, and both dictate pricing in their respective markets. Read More » SPONSORED BY INVESCO The Complete Guide to ETFs ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. Learn More » Related Definitions Petroleum Petroleum is a fluid found in the earth that can be refined into fuel and plastic. Humans rely on petroleum for more than just gasoline, but it has a large and negative impact on the environment. Read More » Nonrenewable Resources A nonrenewable resource is a natural substance that is not replenished with the speed at which it is consumed. It is a finite resource. Read More » Commodity A commodity is a basic good used in commerce that is interchangeable with other goods of the same type. Read More » Spot Market The spot market is where financial instruments, such as commodities, currencies, and securities, are traded for immediate delivery. Read More » CONNECT WITH INVESTOPEDIA Email sent to: geezers.mail@gmail.com To update your newsletter preferences or unsubscribe, click here. 114 West 41st St, floor 8 New York NY 10036 © 2020, Investopedia, LLC, All Rights Reserved | Privacy Policy