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Multi-Sided Platform For Instant Purchases And Sales In Commodity Markets
... accessibility of these sites for more potential consumers to a significant level.
Provide sellers and consumers with analytic tools, using artificial intelligence.
Reduce the time of the transaction of purchase and sale of the required products.
The oil product market does not stay on the sidelines of digitalization. Aksa et al. (2021) note that the emergence of various digital platforms, with different product content and available functionality, leads to the formation of its own digital ecosystem, which develops ...
An expert predicted a rise in oil prices due to a reduction in production in Libya.
... expert referred to data from the Energy Information Administration (EIA), which showed that global demand for oil, gas condensate, and other liquid hydrocarbons in Q2 2024 exceeded production by 720,000 bpd.
"Due to the shortage on the global market, commercial oil and petroleum product stocks in OECD countries dropped by 28,000 barrels, which is almost 30% equivalent to the daily global demand. This, in turn, slightly boosted price growth: the average price of Brent oil increased from $82 to $85.3 per barrel from May to July ...
Will production fall in Iran and Venezuela? Should the market expect a sharp rise in prices or increased competition among exporters?
Sergey Tereshkin's column for INFOTECH.
In the article "Will Oil Production Decline in Iran and Venezuela? Should the Market Expect Sharp Price Growth or Increased Competition Among Exporters?" the author analyzes the current geopolitical events affecting oil production in these countries. The article discusses how the political crisis in Venezuela and the escalation ...
FEC News – Sunday, August 3, 2025: Brent around $73; Asia Becomes Main Market for Russian Oil Exports
... begin to decline slowly starting from 2026. For now, the coal sector provides near-record levels of electricity generation worldwide, remaining a vital component of energy supply.
Oil Products and Refining: Market Contrasts and Stabilization Measures
Oil product markets around the world are developing differently. In Russia, authorities recently took an unprecedented step to stabilize fuel prices. From August 1, a temporary full ban on the export of automotive gasoline for all companies, including large refineries,...
The petroleum products marketplace "Open Oil Market" plans to go public through an IPO.
... scaling of the project. The IPO is scheduled for the first half of 2027," the statement said.
By 2027, the marketplace plans to increase its annual trading volume to 736 billion rubles and achieve a 22% market share of the overall small wholesale oil product market.
It is noted that the annual trading turnover of Open Oil Market has increased 2.7 times since 2021, reaching 5.9 billion rubles in 2023. As of the first half of this year, the indicator grew another 13%.
The total trading turnover of the ...