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bbls meaning in oil and gas
bbls means Barrels (as in a 'Barrels' of Oil). Ever wondered why it is bbl and not bl, the original abbreviation was for blue barrels. Oil was stored in 42 US gallon barrels whereas other products were generally stored…
Definition
Barrels (as in a 'Barrels' of Oil)
Ever wondered why it is bbl and not bl, the original abbreviation was for blue barrels. Oil was stored in 42 US gallon barrels whereas other products were generally stored in 40 US gallon barrels - the blue colour indicated that the barrel was 42 gallons.<p> <p> barrels of oil, as a standard unit of production volume