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Unprocessed oil that can be refined into valuable fuel.
In-game description

Crude Oil is a raw material that can be obtained by fueling an Oil Well. It is refined into Petrol at a ratio of 3 to 1 at a Refinery.

Contrary to what you might think, Crude Oil cannot be transported in a Resource Container, including those on Atlas or Loadlugger resources trucks. The most efficient way to transport Crude Oil is via R-1 Hauler or Dunne Transport.

Crude oil cannot be transported in fuel truck.