oil patchoil patch
- an area or region where much petroleum is produced
- the petroleum industry
- The petroleum and natural gas industry.
- An oil-producing region.
oil patch - Investment & Finance Definition
An informal term that applies to a region in the United States that produces a significant amount of U.S. oil. The oil patch states include Texas, Oklahoma, Kansas, and Louisiana. Although Alaska is a large oil producer, it is geographically outside of the oil patch.