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TeachMeFinance.com - explain Crude oil production Crude oil production The term 'Crude oil production' as it applies to the area of energy can be defined as ' The volume of crude oil produced from oil reservoirs during given periods of time. The amount of such production for a given period is measured as volumes delivered from lease storage tanks (i.e., the point of custody transfer) to pipelines, trucks, or other media for transport to refineries or terminals with adjustments for (1) net differences between opening and closing lease inventories, and (2) basic sediment and water (BSw)'. Previous 5 Terms: Crude oil Crude oil f.o.b. price Crude oil input Crude oil landed cost Crude oil losses Next 5 Terms: Crude oil qualities Crude oil refinery input Crude oil stocks Crude oil used directly Crude oil, refinery receipts About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.