Biogenic theory
Most geologists view crude oil, like coal and natural gas, as the product of compression and heating of ancient vegetation over geological time scales. According to this theory, it is formed from the decayed remains of prehistoric marine animals and terrestrial plants. Over many centuries this organic matter, mixed with mud, is buried under thick sedimentary layers of material. The resulting high levels of heat and pressure cause the remains to metamorphose, first into a waxy material known as kerogen, and then into liquid and gaseous hydrocarbons in a process known as catagenesis. These then migrate through adjacent rock layers until they become trapped underground in porous rocks called reservoirs, forming an oil field, from which the liquid can be extracted by drilling and pumping. 150 m is generally considered the "oil window". Though this corresponds to different depths for different locations around the world, a 'typical' depth for an oil window might be 4 - 5 km. Three conditions must be present for oil reservoirs to form: a rich source rock, a migration conduit, and a trap (seal) that forms the reservoir.
The reactions that produce oil and natural gas are often modeled as first order breakdown reactions, where kerogen breaks down to oil and natural gas by a large set of parallel reactions, and oil eventually breaks down to natural gas by another set of reactions.
Abiogenic theory
The idea of abiogenic petroleum origin was championed in the Western world by Thomas Gold based on thoughts from Russia, mainly on studies of Nikolai Kudryavtsev. The idea proposes that large amounts of carbon exist naturally in the planet, some in the form of hydrocarbons. Hydrocarbons are less dense than aqueous pore fluids, and migrate upward through deep fracture networks. Thermophilic, rock-dwelling microbial life-forms are in part responsible for the biomarkers found in petroleum.
This theory is very much a minority opinion amongst geologists. This theory often pops up when scientists are not able to explain apparent oil inflows into certain oil reservoirs. These instances are rare.
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