In reference to petroleum, Mbbl is an abbreviation for "Millions of barrels". It is the most commonly used unit in reference to large-scale oil production.
In reference to petroleum, specifically oil and natural gas liquids, bbl is an abbreviation for 1 barrel, equal to exactly 42 U.S. gallons, or approximately 159 liters.
The abbreviations 1 Mbbl and 1 MMbbl are generally accepted to mean one thousand and one million barrels respectively.
(In non-industry documentation Mbbl can sometimes stand for one million barrels.) While North American markets typically measure oil in barrels, elsewhere oil is more commonly measured in cubic meters and less commonly in metric tonnes.
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