Wednesday 17 November 2010

How To Buy Crude Oil

 

The way you can use to buy crude oil, which is also known as petroluem is available. The major thing you need is fund. You should also bear in intellect that crude oil is purchased in barrels, so you should not think that you will be doing so through liters.

Many countries produce petroleum. Some of the countries are Nigeria, Saudi Arabia, Russia, USA, Mexico, Venezuela, Iran, Kuwait, Iraq and the rest of other countries. Your first step will be to find suppliers in these countries. It will not be simple to associate with petroleum suppliers in Iran due to the fact that they are heavily under sanctions place in place by USA etc. You will need to read the terms of the sanction before you think of buying from Iran.

USA produces oil but it imports as well. As such, you might not easily find a place to buy crude oil in USA because demand exceeds supply. A good place to easily find sellers of crude oil is in Nigeria. Nigeria is the largest producer of crude oil in Africa. It drills millions of barrels in a single day. Since the ethnic violence which generally occurs in Nigeria reduced to its lowest level in 2009, more and more barrels of crude oil is produced on regular basis. Sellers of crude oil can easily be found in Nigeria due to there are fewer restrictions guiding the buy of crude oil. Your first step will be to associate with a seller. Once you have connected with a genuine seller, then you can work out the deal with the buyer. Allocation of crude oil can also be gotten from a government bureau referred to as NNPC. It is the main seller of crude oil in Nigeria. Allocations can be gotten easily when you go through a broker. This is so because they know the in and out of the petroleum commerce within the NNPC. Nigeria produces crude oil more than it uses, leaving surplus crude oil acquirable to sell.

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