what is the meaning of petroleum? explain the relation between crude oil and the black gas?
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Petroleum, also called crude oil, is a fossil fuel. Like coal and natural gas, petroleum was formed from the remains of ancient marine organisms, such as plants, algae, and bacteria. ... Their crude oil is extracted with giant drilling machines
A correlation coefficient between crude oil and natural gas of 0.25 indicates that a change in oil price can account for 25% of the change in natural gas prices (on average, throughout the study period).
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