Crude petroleum oil, commonly known as crude oil, is an unrefined liquid that occurs naturally beneath the Earth’s surface. It is comprised of hydrocarbons and other organic compounds and serves as the key raw material for producing various petroleum-based products such as gasoline, diesel fuel, jet fuel, heating oil, and more.
The formation of crude oil takes place over millions of years as the remains of deceased plants and animals become buried deep underground. Through the application of heat and pressure, these organic remnants gradually transform into liquid hydrocarbons.
While the world is moving towards renewable energy sources in the future, it is important to note that, as per the US Energy Information Administration, liquid fuels continue to be the primary source of energy in the reference case.
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