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 ($)