Oil global price quotes



The current, latest prices of Oil in the world in the global markets

edible oil


Price range: 477.5 - 477.5 PKR / 1 kg | Market: Peshawar Wholesale Market | Date: 2022-05-20

shama ghee tin oil


Price range: 8000 - 8000 PKR / 16 kg | Market: Peshawar Wholesale Market | Date: 2022-05-20

Oil

Oil is a smooth, thick liquid that is used for cooking and other purposes. It is made from a variety of sources, including vegetables, fruits, seeds, and nuts. It can also be made from animal products, such as milk and lard. Oil has many different uses in cooking, such as frying food or adding flavor to dishes. It can also be used to make cosmetics, such as lipstick and moisturizers. In some countries, oil is used as a fuel for vehicles and other machines. There are many different types of oil, including olive oil, vegetable oil, peanut oil, and coconut oil. Each type of oil has its own unique flavor and properties. Different types of oil can be used for different purposes. For example, olive oil is often used in salad dressings or as a dipping sauce, while peanut oil is better suited for cooking. When choosing an oil, it's important to consider the flavor and the smoke point. The smoke point is the temperature at which the oil begins to break down and smoke. Olive oil has a moderate smoke point, which makes it a good choice for cooking at lower temperatures. Peanut oil has a higher smoke point, so it's better suited for stir-frying or other high-heat cooking methods. Canola oil is another good option with a high smoke point. When it comes to flavor, olive oil and peanut oil have a strong taste that can be overwhelming in some dishes. Canola oil is more neutral in flavor, making it a good choice for cooking when you don't want the oil to be a dominant flavor. In 2019, global production of consumable oil totaled nearly 183 million barrels per day. The United States, China, and India are the top three consumers of oil in the world. The United States is the largest producer and consumer of oil in the world. In 2019, the country produced an estimated 18.42 million barrels of oil per day and consumed an estimated 20.58 million barrels per day. China is the second-largest producer and consumer of oil in the world. The country produced an estimated 14.23 million barrels of oil per day in 2019 and consumed an estimated 16.16 million barrels per day that same year. India is the third-largest producer and consumer of oil in the world. The country produced an estimated 5.33 million barrels of oil per day in 2019 and consumed an estimated 4.69 million barrels per day that same year. Other countries in the top 10 list of oil-producing nations include Russia, Saudi Arabia, Canada, Iraq, and Iran. These countries collectively produced an estimated 77.79 million barrels of oil per day in 2019. Russia is the largest producer, followed by Saudi Arabia and Canada. The top 10 list of oil-consuming nations include the United States, China, India, Japan, South Korea, Germany, Russia, Brazil, Canada, and Saudi Arabia. These countries collectively consumed an estimated 97.51 million barrels of oil per day in 2019. The United States is the largest consumer, followed by China and India. Japan, South Korea, and Germany round out the top five. In terms of oil reserves, Venezuela has the largest proven reserves in the world, with an estimated 300 billion barrels as of January 2020. Saudi Arabia has the second-largest proven reserves, with an estimated 266 billion barrels. Canada has the third-largest proven reserves, with an estimated 169 billion barrels. The United States is not among the top three countries in terms of proven oil reserves. The country has an estimated 54 billion barrels of proven oil reserves as of January 2020.

Download our new
Husfarm App

Stay up to date with the current prieces of agricultural products all over the world.

Do you want to sell agricultural products?
Are you an Agricultural processor looking for high-quality products to buy?
Post an ad for FREE!

New offer