oil trade
Barrel-based global business
The oil trade is the global commerce in crude oil and petroleum products.
It encompasses extraction, transportation, refining, and sale across international markets.
The oil trade shapes geopolitics, as oil-producing nations wield significant economic influence: Sanctions disrupted the oil trade with Iran.
OPEC coordinates production among major exporters to influence prices and supply.
- petroleumNatural underground hydrocarbon liquid
- black goldSlang for petroleum
- crudeUnpolished, raw state
- barrelHooped cylindrical vessel
- tankerVessel for liquid bulk
OPEC · pipeline · Strait of Hormuz · refinery · export · import · embargo · cartel · futures · spot price · energy market · drilling · shipping · commodity · reserves · sanctions · Gulf · supertanker
- energy marketspot market, spot price, prices, pricing, wholesale
- oil tradepetroleum, barrels, OPEC, supertankers, VLCC
- US Tradeinterstate commerce, NAFTA, USMCA, container shipping, commodity markets
- trade historycommerce, merchant, colonial economy, merchant ships, Silk Road
- African economicsGDP, GDP growth, foreign investment, natural resources, mining sector
- ancient tradeSilk Road, caravan routes, sea routes, river routes, maritime routes
oil tradeenergy conservation
Unchanging total in closed systems
environmental protection · oil embargo · carbon reduction · decarbonization · rewilding
oil, trade, oils, oiled, oiling, oily, oiliness, trades, traded