Oil paint Presbyter, a 12th-century German monk, recommended linseed oil but advocated against the use of olive oil due to its long drying time. Oil paint was mainly used as it is today in house decoration, as a tough waterproof cover for exposed woodwork, especially outdoors. In the 13th century, oil was used to detail tempera paintings. In the 14th century, Cennino Cennini described a painting technique utilizing tempera painting covered by light layers of oil. The slow-drying properties of organic oils were commonly known to early painters. However, the difficulty in acquiring and working the materials meant that they were rarely
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude