Business Terms and Jargon Explained

What is Barrel

Oil is sold between countries in quantities called barrels. A barrel provides a volume measurement of crude oil. A barrel equals 42 gallons (USA), or about 35 gallons (Imperial) or 159 litres.

Crown Copyright. Material taken from National Statistics website: www.statistics.gov.uk. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-01-19 00:22:46

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