http://www.americanoilinvestments.com/articles/Light-Crude_Summary.html Light crude oil has a low content of wax. The difference between light and heavy crude is difficult to identify because it is more noticeable on the ground than in the paper. The main difference lies on wax content. This kind of oil is characterized by having high API and low specific gravities since it has low metallic compound and high amounts of hydrocarbon fractions. If you want to know more about the situation of this industry: prices, demand and supply, reading these articles will be very helpful. en-us