Bordynuik probably uses this nonstandard unit for oil because either 1) it sounds much Juicier to report selling 500,000 units of something, than it does to be selling 500 units, or 2) he's uneducated and ignorant about these types of things.
note: "A litre is defined as a special name for a cubic decimetre or 10 centimetres x 10 centimetres x 10 centimetres, (1 L = 1 dm3= 1000 cm3). Hence 1 L = 0.001 m3 = 1000 cm3, and 1 m3 (i.e. a cubic metre, which is the S.I. unit for volume) is exactly 1000 L." http://en.wikipedia.org/wiki/Litre