how many gallons makes a barrel....or how much quantity of oil exist in a barrelll....
why is gas price always measured in terms of barrel price...
please clarifyQuestion on barrel of oil price?
A barrel holds 55 gallons. The 55 gallon drum or barrel is a standard container size. It's small enough that a person can move it, with great effort, by himself yet big enough to hold a sizable quantity of product. As far as oil price being quoted in barrel's of oil I might speculate that it is a hold over from the very earliests days of the oil industry when oil was brought to market in barrels hauled by horse and wagon.
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