A barrel (bbl) is a unit of volume, almost always used for crude oil and petroleum products. It is equivalent to 42 US gallons or 159 liters. It is used very commonly by the oil and gas sector to report their production, and in the media it is also common to hear talk about the "price of the barrel". This is closely related to the energy unit: barrels of oil equivalent.
For Further Reading
- Business Dictionary. (July 30, 2015). What is barrel (bbl) [Online], Available: http://www.businessdictionary.com/definition/barrel-bbl.html