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A whole range of qualities and products are on the market, varying in quality with geographical location, botanical species, the age of the specific tree, cultural deposition and the section of the tree where the piece of agarwood stems from. Oud oil is distilled from agarwood, and fetches high prices depending on the oil's purity. The current global market for agarwood is estimated to be in the range of US$6 â 8 billion and is growing rapidly.
Petroleumâor crude oilâis a fossil fuel that is found in large quantities beneath the Earthâs surface and. is often used as a fuel or raw material in the chemical industry. It is a smelly, yellow-to-black liquid and is. usually found in underground areas called reservoirs. If you could look down an oil well and see oil where. Nature created it, you might be surprised. You wouldnât. see a big underground lake, as a lot of people think. Oil. doesnât exist in deep, black pools.