Evolution of Oil Trading
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Evolution of Oil Trading

The presentation will discuss the parallel developments in the commercial oil industry and related chartering models. It begins with the colonization of producer nations (mainly by the British and Dutch) to Independence movements in the Middle East, Africa, and South America. It then follows the corresponding change in oil trading from a strictly term-driven process to a spot market emerging in the early 1970’s to the commoditization of oil in the following decade and beyond.