Crude oil is a natural, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. It is extracted from the ground through drilling and is a key source of energy used worldwide. Crude oil can be processed in refineries to produce various fuels, including gasoline, diesel, and jet fuel, as well as other products like plastics and chemicals. The price of crude oil is influenced by various factors, including global demand, geopolitical events, and production levels set by major oil-producing countries, such as those in the Organization of the Petroleum Exporting Countries (OPEC). Its importance in the global economy makes it a critical commodity in international trade.