Oil Industry

The oil industry refers to the global sector involved in the exploration, extraction, refining, transportation, and sale of oil and its derivatives. It encompasses a wide range of activities including the discovery of oil reserves, drilling operations, production of crude oil, and the processing of oil into various products such as gasoline, diesel, and petrochemicals. The oil industry is a critical component of the global economy, providing a significant source of energy and raw materials for various industries, including transportation, manufacturing, and chemicals. It also involves the associated supply chain activities, including logistics, marketing, and distribution. The industry is characterized by large multinational corporations, regulatory frameworks, and has a substantial impact on geopolitics and environmental policies due to its influence on energy markets and climate change discussions.