Barrel (unit)

A barrel is one of several units of volume applied in various contexts; there are dry barrels, fluid barrels (such as the UK beer barrel and US beer barrel), oil barrels and so on. For historical reasons the volumes of some barrel units are roughly double the volumes of others; volumes in common usage range from about 100 litres (22 imp gal; 26 US gal) to 200 litres (44 imp gal; 53 US gal). In many connections the term "drum" is used almost interchangeably with "barrel".

Since medieval times the term barrel as a unit of measure has had various meanings throughout Europe, ranging from about 100 litres to 1000 litres, or more in special cases. The name was derived in medieval times from the French baril, of unknown origin, but still in use, both in French and as derivations in many other languages such as Italian, Polish and Spanish. In most countries such usage is obsolescent, increasingly superseded by SI units. As a result, the meaning of corresponding words and related concepts (vat, cask, keg etc.) in other languages often refers to a physical container rather than a known measure.

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Latest News for: oil barrel

Fresh US tariff threat looms over purchase of Russian oil

Financial Express 01 Apr 2025
India\u2019s Russian oil imports have averaged 1.85 million barrels per day (bpd) in the first 21 days of March, sharply higher than February\u2019s 1.47 million bpd and January\u2019s 1.64 million ...

Oil prices surge to 5-week high on tariff threat as US crude production hits 11-month ...

Invezz 31 Mar 2025
US crude oil production experienced a significant decline in January, falling by 305,000 barrels per day to reach 13.15 million barrels per day, according to the Energy Information Administration.

Iran can rely on its hydrocarbon resources for 100 years: NIOC

Press TV 31 Mar 2025
The NIOC said that Iran’s baseline oil production would increase by 250,000 barrels per day (bpd) to reach 2.189 million bpd in the near future thanks to $3 billion worth of investment provided by the Central Bank of Iran.

Oil slips despite possible tariffs on Russian buyers

Business Day 31 Mar 2025
The group is likely to continue to raise oil output in May, Reuters reported last week ... Elsewhere, Iran has lowered the price of its light crude oil grade for Asian buyers to $3.95 a barrel above the Oman/Dubai average for April.

Oil prices slip amid Trump tariff threat

CyprusMail 31 Mar 2025
The group will likely continue to raise oil output in May, Reuters reported last week ... Elsewhere, Iran has lowered the price of its light crude oil grade for Asian buyers to $3.95 a barrel above the Oman/Dubai average for April.

Chinese Oil Major Discovers New Field

Oil Price 31 Mar 2025
... South China Sea that could contain over 100 million tons of crude oil, equal to around 733 million barrels.

China discovers major new oilfield off Shenzhen

Urdu Point 31 Mar 2025
... he said.</p><p> China remains the world's largest importer of crude oil, receiving 11.1 million barrels a day last year, according to US government analysis.</p> .

China discovers 100-million-ton crude oil reserve in South China Sea

Anadolu Agency 31 Mar 2025
China announced Monday the discovery of a crude oil ... CNOOC said test drilling at the site yielded 413 barrels of oil and 68,000 cubic meters of natural gas per day.

‘Spring spike’: Gas prices making seasonal climb, according to AAA report

The Oneida Daily Dispatch 31 Mar 2025
But the national average is still about 40 cents lower than last year, due to tepid gasoline demand and weak crude oil prices ... Crude oil prices have increased slightly, ranging from $69 to $75 per barrel this morning.

President Trump losing patience with Putin, says he is ‘pissed off’ and threatens tariffs on ...

CyprusMail 31 Mar 2025
has not imported any Russian barrels of crude oil since April 2022, according to U.S ... refiners bought inconsistent volumes of Russian oil, with a high of 98.1 million barrels in 2010 and low of 6.6 ...

'Pissed off' at Putin, Trump threatens tariffs on Russian oil if Moscow blocks Ukraine deal

Korea Times 31 Mar 2025
has not imported any Russian barrels of crude oil since April 2022, according to U.S ... refiners bought inconsistent volumes of Russian oil, with a high of 98.1 million barrels in 2010 and low of 6.6 ...

China's CNOOC discovers oilfield in South China Sea

The Manila Times 31 Mar 2025
... of Shenzhen, sits at an average water depth of 100 meters, the report said, adding that test drilling has yielded a daily production of 413 barrels of crude oil and 68,000 cubic meters of natural gas.
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