Though most of commodities like metals have been used for many industrial applications but the usefulness of crude-oil as it is the most important energy sources in the world. Crude-oil has been the most valuable commodity that has been drilled out from earth and which has readily changed the lifestyle of human beings.
In today's era anything we use for our daily purpose is indirectly linked to this precious commodity crude oil. In today's world the countries of Saudi Arabia, Russia are the largest producers of this precious crude oil followed by United States of America.
It can be said that it is made up of a hydrocarbon mixture if we go deep into the chemistry of the crude-oil. It is found as a liquid in its natural form and found within the formations of earth’s cleft due to the decomposition of the dead organic matter millions of years ago. Once this oil is distilled then a variety of lubricants and petrochemicals are obtained from them.
Kerosene, Diesel, Fuel oil is the main products that are obtained by the distillation of the crude-oil. The crude-oil that is drilled from the different locations of the earth is found to vary much in their viscosity density and composition.
The best quality oil till now has been concentrated in the Gulf countries and hence they have a high demand for their high quality oil. The most common uses of crude oil is that it can be put to use in the form of gasoline which is the fuel for the aircraft, automobiles, heating oil’s and also for the generation of the electricity.
Some experts are predicting that the prices of crude oil will rise in future because of its various uses. Therefore it is the time to consider adding crude oil commodity to your investment portfolio.
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