This is a generalized expression for products whose quantity values cannot be expressed by just using integer numbers (1, 2, 3, 4…) and units of dimension one (1) (e.g. 2 pieces, 5 pallets, 7 boxes etc.), as it is the case for discrete products.
Crude oil is a liquid bulk product; quantity values of crude oil, like:
- 10 840.6 barrels at 95 °F (total observed volume – TOV)
- 1447.43 long tons (net standard weight – NSW)
require complex measurements (e.g. to determine the total observed volume – TOV) and quantity conversions (e.g. to obtain a net standard weight – NSW from TOV) and are typically expressed as decimal numbers with a level of accuracy that is determined by the measurement accuracy; thus realistic rounding is crucial and defined in various measurement standards.