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6 Facts About the Oil Industry You Didn't Know
Feb 10, 2023

It's no secret that the oil industry is an integral part of our daily lives. According to Forbes, in 2020, there was a huge drop in oil consumption worldwide due to the COVID-19 pandemic. Now that people are back to living their normal lives, oil companies are noticing oil consumption beginning to rise across the globe, despite the economically-driven inflation of prices. Since oil is a big part of most peoples day to day routine, here are some lesser-known facts you may find interesting!


1. Oil Is Consumed in the U.S. the Most


The United States has less than 5% of the world's population yet uses 20% of the world's oil supply, making it the largest oil consumer. In 2018, the US used 20.5 billion barrels daily and the states that generally consume the least are Delaware, Vermont, Hawaii, New Hampshire, and Rhode Island.


2. Oil Has a History in the Medicine Field


Interestingly, medical equipment, including many life-saving devices, is made from oil. These include cleaning and safety products used in the medical field. Other examples are heart valves, artificial limbs, and some pharmaceuticals such as aspirin.


3. Oil Is an Organically-Formed Substance


Petroleum is formed from many years of dead organisms underneath the earth's mantle being exposed to intense heat and pressure. Those organisms may have been made up of algae, plankton, and plants.


4. Oil Is Measured in Barrels


Most large quantities of liquids are measured in liters or gallons. However, crude oil is measured in barrels. A barrel is equal to 42 gallons or a bit more than 158 liters.


5. Oil Was First Welled in China


Today's Poland boasts about having the first-known modern oil well, which was drilled in 1853. However, ancient oil wells were drilled in China almost 2,500 years ago. Back then, crude oil was extracted by using bamboo as a tool, which is a very different process from modern techniques.


6. Oil Platforms Create Ecosystems


When oil is drilled underneath the water, oil platforms are used which attract wildlife and fish. They provide a nice surface for algae, barnacles, and coral to develop, thus creating ecosystems. The Rigs-to-Reefs Program started in 1986 to maintain marine life along oil platforms.


Now that you know a few interesting facts related to oil and oil companies that you may not have known before, you may want to know more. If you have questions about the quality of our oil, or simply want to get in touch to schedule an estimate, give Al's Oil Service a call today!


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