Barrel (unit) continued to use the same size barrels. In the worldwide oil industry, an oil barrel is defined as 42 US gallons, which is about litres or 35 imperial gallons. Oil companies that are listed on American stock exchanges typically report their production in terms of volume and use the units of bbl, Mbbl (one thousand barrels), or MMbbl (one million barrels) and occasionally for widest comprehensive statistics the Gbbl (or sometimes Gbl) denoting a billion. There is a conflict concerning the units for oil barrels (see ). For all other physical quantities, according to the International System of Units, the
Barrel (unit) in many countries, the term may be used for the commercial package units independent of actual volume, where common range for professional use is 20-60 L, typically a DIN or "Euro keg" of 50 L. Richard III, King of England from 1483 until 1485, had defined the wine puncheon as a cask holding 84 gallons and a wine tierce as holding 42 gallons. By 1700 custom had made the 42-gallon watertight tierce a standard container for shipping eel, salmon, herring, molasses, wine, whale oil and many other commodities in the English colonies. After the American Revolution in 1776, American merchants