A Time Series Analysis Of Crude Oil Production Rates By Opec Member Countries
ABSTRACT
Petroleum
— known as "crude oil" within the petroleum industry or simply called
"crude" to distinguish it from refined oils — is an oily, flammable
liquid. It is a complex varied mixture of a number of hydrocarbons with small
amounts of sulphur, nitrogen, and oxygen. Believed to be of organic origin, petroleum
occurs naturally in the upper strata of the earth in various parts of the
world. The name petroleum comes from two Latin words, "I'elra"
meaning rock and "Oleum",
meaning oil. In all industrial nations, petroleum or crude oil (as we shall continue
to call it henceforth) is a prime source of energy. However, it is more than
that, being the only adequate source of the oils and other lul,ricants
necessary to keep modern high-speed machinery working. Crude oil is also a valuable
source of a large range of chemicals used in fibres, plastics, detergents,
synthetic rubber and other products known as petrochemicals. Crude oil is
measured in units called barrels, one of which is equivalent to 159 litres.
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NNAEMEKAKAM, C (2021). A Time Series Analysis Of Crude Oil Production Rates By Opec Member Countries . Repository.mouau.edu.ng: Retrieved Nov 25, 2024, from https://repository.mouau.edu.ng/work/view/a-time-series-analysis-of-crude-oil-production-rates-by-opec-member-countries-7-2
CHIKEZIE, NNAEMEKAKAM. "A Time Series Analysis Of Crude Oil Production Rates By Opec Member Countries " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 02 Jun. 2021, https://repository.mouau.edu.ng/work/view/a-time-series-analysis-of-crude-oil-production-rates-by-opec-member-countries-7-2. Accessed 25 Nov. 2024.
CHIKEZIE, NNAEMEKAKAM. "A Time Series Analysis Of Crude Oil Production Rates By Opec Member Countries ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 02 Jun. 2021. Web. 25 Nov. 2024. < https://repository.mouau.edu.ng/work/view/a-time-series-analysis-of-crude-oil-production-rates-by-opec-member-countries-7-2 >.
CHIKEZIE, NNAEMEKAKAM. "A Time Series Analysis Of Crude Oil Production Rates By Opec Member Countries " Repository.mouau.edu.ng (2021). Accessed 25 Nov. 2024. https://repository.mouau.edu.ng/work/view/a-time-series-analysis-of-crude-oil-production-rates-by-opec-member-countries-7-2