Enter the sale price of oil ($/barrel), the purchase price of oil ($/barrel), and the quantity of oil (barrels) into the calculator to determine the Oil Profit.

## Oil Profit Formula

The following formula is used to calculate the Oil Profit.

OP = (SO - PO) *QO
• Where OP is the Oil Profit ($) • SO is the sale price of oil ($/barrel)
• PO is the purchase price of oil ($/barrel) • QO is the quantity of oil (barrels) ## How to Calculate Oil Profit? The following example problems outline how to calculate Oil Profit. Example Problem #1 1. First, determine the sale price of oil ($/barrel). In this example, the sale price of oil ($/barrel) is given as 50 . 2. Next, determine the purchase price of oil ($/barrel). For this problem, the purchase price of oil ($/barrel) is given as 25 . 3. Next, determine the quantity of oil (barrels). In this case, the quantity of oil (barrels) is found to be 100. 4. Finally, calculate the Oil Profit using the formula above: OP = (SO – PO) *QO Inserting the values from above yields: OP = (50 – 25) *100 = 2,500.00 ($)

Example Problem #2

The variables needed for this problem are provided below:

sale price of oil ($/barrel) = 40 purchase price of oil ($/barrel) = 30

quantity of oil (barrels) = 135

Entering these values and solving gives:

OP = (40 – 30) *135 = 1,350 (\$)