# CrudeOilNews: An Annotated Crude Oil News Corpus for Event Extraction

arXiv: https://arxiv.org/abs/2204.03871 · HTML: https://mlsanity.com/paper/2204.03871/

## Key facts

- Cited by 10 papers in the map (data through 14 Oct 2026).
- Builds on 2 of its 29 references that are in the map.
- First posted on arXiv 8 Apr 2022.

## Builds on (most cited first, 2 of 2)

- [BERT: Pre-training of Deep Bidirectional Transformers for Language Understanding](https://mlsanity.com/paper/1810.04805/) (2018)
- [Jointly Multiple Events Extraction via Attention-based Graph Information Aggregation](https://mlsanity.com/paper/1809.09078/) (2018)

## Built on by (most cited first, 10 of 10)

- [A Survey of Active Learning for Natural Language Processing](https://mlsanity.com/paper/2210.10109/) (2022)
- [YAYI-UIE: A Chat-Enhanced Instruction Tuning Framework for Universal Information Extraction](https://mlsanity.com/paper/2312.15548/) (2023)
- [Adaptive Schema-aware Event Extraction with Retrieval-Augmented Generation](https://mlsanity.com/paper/2505.08690/) (2025)
- [MR-UIE: Multi-Perspective Reasoning with Reinforcement Learning for Universal Information Extraction](https://mlsanity.com/paper/2509.09082/) (2025)
- [IEPile: Unearthing Large-Scale Schema-Based Information Extraction Corpus](https://mlsanity.com/paper/2402.14710/) (2024)
- [RUIE: Retrieval-based Unified Information Extraction using Large Language Model](https://mlsanity.com/paper/2409.11673/) (2024)
- [Schema as Parameterized Tools for Universal Information Extraction](https://mlsanity.com/paper/2506.01276/) (2025)
- [ESG-FTSE: A corpus of news articles with ESG relevance labels and use cases](https://mlsanity.com/paper/2405.20218/) (2024)
- [Crude Oil-related Events Extraction and Processing: A Transfer Learning Approach](https://mlsanity.com/paper/2205.00387/) (2022)
- [SCOPE and SCION: A Benchmark and an Auditable Reference Pipeline for Schema Induction and Fusion from Text](https://mlsanity.com/paper/2607.21610/) (2026)

## Abstract (arXiv)

In this paper, we present CrudeOilNews, a corpus of English Crude Oil news for event extraction. It is the first of its kind for Commodity News and serve to contribute towards resource building for economic and financial text mining. This paper describes the data collection process, the annotation methodology and the event typology used in producing the corpus. Firstly, a seed set of 175 news articles were manually annotated, of which a subset of 25 news were used as the adjudicated reference test set for inter-annotator and system evaluation. Agreement was generally substantial and annotator performance was adequate, indicating that the annotation scheme produces consistent event annotations of high quality. Subsequently the dataset is expanded through (1) data augmentation and (2) Human-in-the-loop active learning. The resulting corpus has 425 news articles with approximately 11k events annotated. As part of active learning process, the corpus was used to train basic event extraction models for machine labeling, the resulting models also serve as a validation or as a pilot study demonstrating the use of the corpus in machine learning purposes. The annotated corpus is made available for academic research purpose at https://github.com/meisin/CrudeOilNews-Corpus.