Definition of Unaccounted for (crude oil)

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TeachMeFinance.com - explain Unaccounted for (crude oil)



Unaccounted for (crude oil)

The term 'Unaccounted for (crude oil)' as it applies to the area of energy can be defined as ' Represents the arithmetic difference between the calculated supply and the calculated disposition of crude oil. The calculated supply is the sum of crude oil production plus imports minus changes in crude oil stocks. The calculated disposition of crude oil is the sum of crude oil input to refineries, crude oil exports, crude oil burned as fuel, and crude oil losses'.

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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".


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