Petroleum Trade

Petroleum trade refers to the buying and selling of oil and its byproducts on a global scale. Countries rich in oil extract it from the ground and sell it to others that need it for energy, transportation, and manufacturing. The trade can involve crude oil, which is processed into gasoline, diesel, and other products, or refined products directly. This industry affects economies, fuels industries, and influences global politics. Prices fluctuate based on supply and demand, geopolitical stability, and environmental policies, making it a key area of focus for countries and investors alike.