I'm not an oil analyst, but a good broker knows a little bit of everything ...
"barrels per day", when used in that context, is usually "barrel of oil equivalent" (boe). BOE is a unit of energy, like BTUs. It's equal to about 6 billion joules, which is the energy you would release by burning a barrel of crude oil. The reason one talks in BOE is precisely the one which I think underlies your question; it's so you can put different petroleum products on an equal footing. Particularly useful when talking about the North Sea oil field, where you have a number of fields that produce both oil and natural gas. But I'd add the usual caveat ... a good broker knows a little bit of everything, but usually knows it wrong. So I will immediately demur to any genuine experts who reply. best dd -----Original Message----- From: PEN-L list [mailto:[EMAIL PROTECTED] Behalf Of Robert Naiman Sent: 16 July 2004 17:27 To: [EMAIL PROTECTED] Subject: oil query any oil experts on this list? or any referrals to same? i need to ask someone questions like "when analysts or journalists refer to millions of barrels of oil produced per day, what products are they typically including?" thanks in advance for any assistance. -- Robert Naiman Senior Policy Analyst Venezuela Information Office 733 15th Street, NW Suite 932 Washington, DC 20005 t. 202-347-8081 x. 605 f. 202-347-8091 (*Please note new suite number and telephone*) ::: ::: ::: ::: ::: ::: ::: The Venezuela Information Office is dedicated to informing the American public about contemporary Venezuela. More information is available from the FARA office of the Department of Justice in Washington, DC.
