A glossary of common terms and abbreviations used in the industry, with links to more in-depth articles on key words
Waterborne - any cargo of crude or refined product that is sold already loaded on a tanker
Watson K factor - a measure of the aromaticity/paraffinicity of a crude oil or of a crude oil fraction
Wax - a refined product produced by solvent extraction from vacuum resid, typically in the lubes production
WCS (crude) - (Western Canadian select) a major heavy, sour grade of crude produced in Western Canada
WCSB - (Western Canada sedimentary basin) a major heavy sour grade of crude produced in western Canada
Well head - the point in the oil value chain at which crude oil is out of the ground and able to be gathered and transported
West Texas Intermediate (crude) - (WTI) a grade of light sweet crude oil produced in the interior of the US
Wet gas - natural gas that contains a significant volume of NGLs
White cliffs (crude) - a light, sweet crude grade produced in the US
White oil - a specialty refined product used for non-fuel purposes such as food and cosmetics
White rose (crude) - a medium, sweet crude grade produced in Canada
White spirit - a naphtha range refined product used as an extraction solvent, cleaner (paint thinner) or degreaser
Widuri (crude) - a medium, sweet crude grade produced in Indonesia
Wilmington (crude) - a medium, sour crude grade produced in the US
Working capital - the inventory of crude and refined products maintained in a refinery to support operations
Worldscale - the market index system used for crude and refined product tankers
WTI (crude) - (West Texas Intermediate) a grade of light, sweet crude oil produced in West Texas in the US
WTS (crude) - a light, sour crude grade produced in West Texas in the US
Wyoming sweet (crude) - a medium, sour crude grade produced in the US