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Purchase of Crude Oil Using the Internet

2 min read

In the modern times, internet is used to promote trade of different products ranging from a small needle to airplanes. There is hardly any commodity which is not sold and bought through the use of internet. It won’t be wrong to state that “If it is not available on internet it does not exist”. If internet is the most influential communication media of this generation, then crude oil also holds the distinction of being the most important product or commodity in the modern world. Let us further study how the most of important promoter of Trade (the internet) helps buyers of crude oil to purchase this most sought after commodity.

There are online merchant trading platforms which offer opportunity to both the buyers and the sellers (of crude) to look for suitable matches. Getting allocation of crude from various refineries remains a very tricky job. Establishments those who fail to get these allocations have no choice but to rely upon companies which were successful in getting them. There are many smaller companies (agents) in the supply chain who closely know the companies already having these allocations and look for buyers on their behalf. Most of the times these agents would upload their sale offers on a crude oil trading web portals.

As a purchaser of crude, first step would be to visit one of these websites and get your company registered with them. Registration on the website will give you privileges to browse through various sections of these website and have a free hand in scrutinizing details listed therein. Easiest way to look for sellers here would be through using the ‘search’ option available in almost all these websites and mentioning your search parameters therein. Almost instantly on the click of the button you can get a list of suppliers meeting your search criteria. You can go through this list and may further refine it based on your liking and understanding of these search results.

The details which you can get through a crude oil trading portal may include, Name of the selling company, their address and other contact details, their current turnover, information of their major markets, what quantity and grade of crude they are offering, price idea and port of loading. This information would be good enough for you to further refine this list to few companies whom you think are genuine and serious with their sale offers. You can individually contact these companies confirming your interest in their offers and ask for further details and present your credentials to them as well.

If everything goes well and to your liking, after exchange of initial information you could have a face to face meeting to make the final contact and sale deed. The thing which started with few clicks on your web browser could end up in a successful million dollar sale contract.

R Ambardar

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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