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INVENTORIES | 12 Months Ended
--- | ---
Dec. 31, 2019
INVENTORIES |
INVENTORIES | 14. INVENTORIES
($ millions) |  | December 31 2019 |  | December 31 2018 |
Crude oil(1) |  | 1 689 |  | 1 424 |
Refined products |  | 1 290 |  | 1 033 |
Materials, supplies and merchandise |  | 782 |  | 702 |
|  | 3 761 |  | 3 159 |
(1) | Includes $210 million of inventories held for trading purposes (2018 – $247 million) which are measured at fair value less costs of disposal based on Level 1 and Level 2 fair value inputs.
During 2019, purchased product inventories of $13.3 billion (2018 – $14.8 billion) were recorded as an expense.

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- Definition The entire disclosure for inventories. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2019-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=2&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IAS02_g36-39_TI -URIDate 2019-03-27 + Details
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