Light crude oil is fluid petroleum which is low in density. Types of light petroleum. All kinds of benchmark crude oils around the globe are taken as light. All forms of brent crude is regarded as light. Dubai crude varieties are also regarded as light petroleum.
Sweet crude oil is a form of petroleum. In advanced countries like USA, China etc, the form of crude which has little sulfur and high crude oil is normally utilized to produce gas.
In case you do not know, the most desired form of crude oil is the light sweet crude. Manufacturers of sweet petroleum are:
North American - the states in North America which produces light sweet petroleum are referred to as Montana, North Dakota, Pennsylvania, Manitoba, Saskatchewan, Louisiana, Texas and Mexico.
As for the state of Texas, the name given to the sweet light crude oil produced in this state is referred to as Texas light sweet. The name of the sweet petroleum which they produce is collectively referred to as Brent crude.
Africa: in North Africa, both Algeria and Libya produces sweet petroleum.
Crude oil inventory is down, but gasoline and distillates (diesel, jet A and home heating oil) are up. OPEC wants higher prices, and has instituted production cuts. Rising prices encourage holding supply from the market in anticipation of even higher prices. The EIA calculates the average crude oil price at $40.13 during the first quarter. Low prices are causing exploration budgets to shrink.