While the implications of the United States withdrawing from the Iran nuclear deal are still unknown, the oil industry as a whole is watching ever so closely. The Trump campaign claims that sanctions are to be put back on Iran, which could limit the crude oil exports from their country.
One of crude oil’s heaviest uses is when it enters the refining process to create petroleum products people use daily, but let’s take a step back from the fuel aspect of oil, and take a look at other products that can be made from one barrel of crude.
From toothbrushes to dustpans and even t-shirts, one barrel of crude oil has the ability to effect a variety of consumer goods throughout the U.S. As we watch and wait to see how the re-imposed sanctions pan out, it’s important to understand that crude oil plays a larger part in our economy than just petroleum products.
Sources:
http://www.businessinsider.com/things-that-can-be-made-with-one-barrel-of-oil-2016-9
