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Frequently Asked Questions
Crude oil and other hydrocarbons exist in liquid or gaseous form in underground pools, or reservoirs, in tiny spaces within sedimentary rocks and near the earth's surface in tar (or oil) sands. Petroleum products are fuels made from crude oil and the hydrocarbons contained in natural gas
It is a valuable natural resource that is used to produce a wide range of products, including: Fuel: Petroleum is a major source of fuel, including gasoline, diesel, and jet fuel.
Petroleum products include transportation fuels, fuel oils for heating and electricity generation, asphalt and road oil, and feedstocks for making the chemicals, plastics, and synthetic materials that are in nearly everything we use. In 2022, of the approximately 7.3 billion barrels of total U.S. petroleum consumption, about 44% was finished motor gasoline (includes fuel ethanol), 20% was distillate fuel (heating oil and diesel fuel), and 8% was jet fuel. Nine types of hydrocarbon gas liquids combined made up 17% of total U.S. petroleum consumption. Fourteen other major types of petroleum products (including biofuels: biodiesel, renewable diesel, and other biofuels) combined made up about 11% of total petroleum consumption in 2022.
Crude oil is a mixture of hydrocarbons that exists as a liquid in underground geologic formations and remains a liquid when brought to the surface. Petroleum products are produced from the processing of crude oil and other liquids at petroleum refineries, from the extraction of liquid hydrocarbons at natural gas processing plants, and from the production of finished petroleum products at blending facilities. Petroleum is a broad category that includes both crude oil and petroleum products. The terms oil and petroleum are sometimes used interchangeably.