oil patch

oil patch definition - business

oil patch

A geographical area with substantial deposits of crude oil, natural gas, or oil sands. In the United States, most deposits are in the states of Alaska, Louisiana, Oklahoma, and Texas. Huge reserves of oil sands are in Canada's province of Alberta.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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