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TeachMeFinance.com - explain Oil Oil The term 'Oil' as it applies to the area of energy can be defined as ' A mixture of hydrocarbons usually existing in the liquid state in natural underground pools or reservoirs. Gas is often found in association with oil. Also see Petroleum'. The term 'Oil' as it applies to the area of reclamation can be defined as ' Defined as oil of any kind or in any form including, but not limited to, petroleum, fuel oil, sludge, oil refuse, and oil mixed with wastes'. Previous 5 Terms: ohmmeter Ohm's Law OIE (Office International des Epizooties) OIG oikology Next 5 Terms: Oil company use Oil reservoir Oil shale Oil spill contingency fund Oil stocks 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.