crude oilcrude oil
- attributive form of crude oil, noun.
crude oil - Investment & Finance Definition
The raw material refined into gasoline, heating oil, propane, petrochemicals, jet fuel, and other products. A mixture of hydrocarbons, crude oil exists as a liquid underground and remains a liquid in the atmosphere after going through separating processes. Crude oil futures trade on the New York Mercantile Exchange as well as other futures exchanges throughout the world.