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🔥 What most people miss about oil:
Everyone talks about barrels.
Almost nobody talks about what’s inside them. 🛢️
Crude oil quality is defined mainly by API gravity and sulfur — the chemistry that determines how easy it is to refine and what products you get.
• Medium crude (≈30–35° API) → refinery sweet spot
• Heavy crude → expensive processing
• Very light crude → often needs blending
Example: Iranian Light (~32–34° API, ~1.5% sulfur) sits in that efficient middle range many refineries were designed for.
⚠️ That’s why oil markets aren’t just about how many barrels exist.
They’re about what type of crude the system is built to run on.