QR
QR Energy
Oil & Gas
The Anatomy of the Oil Industry
What Is a Barrel, Really?
Inside the Refinery
Upstream, Midstream, Downstream
Shale
The Shale Revolution, Explained
How Fracking Works
The Permian & the Major Basins
Breakevens & Rig Counts
The Majors
What the Majors Actually Do
IOCs vs. NOCs
The Integrated Model
Capital & the Energy Mix
Energy Markets
Why the Oil Price Moves
Reading the Oil Price
Brent vs. WTI
OPEC & OPEC+, Explained
Futures & Hedging
Spare Capacity & the Swing Producer
Resources & Infrastructure
The Plumbing of Energy
Pipelines & Tankers
Refineries, Storage & Reserves
LNG & Export Terminals
Geopolitics of Oil
Oil & the Balance of Power
Chokepoints: The Straits That Move Oil
Sanctions, Embargoes & Stranded Barrels
Resource Nationalism & Who Owns the Oil
Browse
By the numbers
ILLUSTRATIVE · NOT LIVE
BRENT
82.40
▲0.9%
WTI
78.10
▲0.7%
NAT GAS
2.86
▼1.2%
DIESEL
2.71
▲0.3%
GASOLINE
2.44
▼0.4%
OIL & GAS
Oil & Gas
How the industry works — from wellhead to fuel tank, the barrel and the chain.
Every explainer in Oil & Gas
4 PIECES
01
The Anatomy of the Oil Industry
From wellhead to fuel tank — how crude becomes the products that move the world, stage by stage.
7 MIN
02
What Is a Barrel, Really?
One barrel splits into fuels, feedstocks and dozens of products — a quick anatomy of what comes out.
3 MIN
03
Inside the Refinery
How a barrel is split, cracked and blended into the fuels we actually use.
3 MIN
04
Upstream, Midstream, Downstream: The Chain
The three linked stages that move a barrel from underground rock to the pump — and who does what.
3 MIN