Millions of Barrels of Oil Per Day
Definition - What does Millions of Barrels of Oil Per Day mean?
Millions of Barrels of Oil Per Day (MBOPD) is a unit of measurement of crude oil and petroleum products produced or consumed on a daily basis. MBOPD is the acronym of Thousand Barrels of Oil Per Day and it is the same as MBPD which stands for Thousand Barrels of Oil per Day. Any operator who pumps out crude oil quotes the daily production in MBPD or BPD.
Petropedia explains Millions of Barrels of Oil Per Day
MBOPD (Thousand barrels per day of Oil per Day) is equal to 1000 BOPD (barrels of oil per day) which is a measure of a crude oil output from a well. This simply means that the number of barrels of oil produced in one day by an Exploration and Production company or the amount of crude oil processed into petroleum product by a refinery in one day will be measured in BOPD and can be converted into MBOPD.
1 MBOPD = 103 BOPD
In crude oil trading index, the pricing of petroleum liquid is done based on either MBOPD or BOPD and is commonly quoted in dollars per barrel. Many a times, MBOPD is also written as MBPD and BOPD is written as BPD.