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mineral oil is any of various colorless, odorless, light mixtures of higher alkanes from a mineral source, particularly a distillate of petroleum.

The name mineral oil by itself is imprecise, having been used for many specific oils over the past few centuries. Other names, similarly imprecise, include white oil, paraffin oil, liquid paraffin (a highly refined medical grade), paraffinum liquidum (Latin), and liquid petroleum. Baby oil is a perfumed mineral.

Other uses

Applying mineral oil to a butcher block counter top

A hydraulic fluid or hydraulic liquid is the medium by which power is transferred in hydraulic machinery. Common hydraulic fluids are based on mineral oil or water.Examples of equipment that might use hydraulic fluids are excavators and backhoes, hydraulic brakes, power steering systems, transmissions, garbage trucks, aircraft flight control systems, lifts, and industrial machinery.Hydraulic systems like the ones mentioned above will work most efficiently if the hydraulic fluid used has zero compressibility.

Other components

Waste oil is defined as any petroleum-based or synthetic oil that, through contamination, has become unsuitable for its original purpose due to the presence of impurities or loss of original properties.

Differentiating between "waste oil" and "used oil"