Not Financial Advice: If you mean Crude Oil Price, it measures the spot price of various barrels of oil, most commonly either the West Texas Intermediate or the Brent Blend. The OPEC basket price and the NMEX futures price are also occasionally quoted.
Crude Oil is a naturally occurring, unrefined petroleum product comprised of hydrocarbon deposits. Crude oil can be refined to produce usable products such as diesel, gasoline and various forms of petrochemicals.
Though it is often called "black gold," crude oil has ranging viscosity and can differ in color to various shades of black and yellow depending on its hydrocarbon composition. Distillation, the process by which oil is heated and separated in several components, is the first stage in refining.
Find out how crude oil prices are measured, and how prices impact you and the economy at USeconomy.about.com.
Tip! Get updated data about energy and oil prices. Find natural gas, emissions, and crude oil price changes at Bloomberg.com.