residual fuel/oil

https://doi.org/10.1351/goldbook.R05312
The liquid or semi-liquid, high-boiling fraction of residue from the distillation of petroleum which is used as a fuel. After removal of the lower boiling fraction of crude oil, sold as petroleum gas, the somewhat higher boiling fraction becomes gasoline and diesel oil. A portion of the higher boiling fraction is 'cracked' to yield additional gasoline. Still heavier oils become lubricants. @P04401@, asphalt, etc., are also extracted from the crude oil. It is the remaining residual oil, not economically usable for other industrial purposes, which is then sold as a relatively low cost fuel for burning.
Source:
PAC, 1990, 62, 2167. (Glossary of atmospheric chemistry terms (Recommendations 1990)) on page 2211 [Terms] [Paper]