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Used oil is defined as any oil originating in crude oil or petroleum with physical or chemical impurities as contaminants from its use.
The United States produces over 2 Billion gallons of used oil annually. This oil has considerable value as a heating fuel and for reblending into lube oil after recycling.
Used oil has mineral-based origins, as in crude oil or synthetic oil. Used engine oil, transformer oil, turbine lube oil, etc., are examples of used oil.
On the other hand, Waste oil is an oil with organic origin such as WVO (Waste Vegetable Oil), Used Cooking Oil, yellow grease, etc.