What is the oil trade?
Global trade is still an impact on the economies of nations and there is more trade year -on -year in oil or oil than in something else. Oil trade denotes the extraction, transport and improvement of oil to be sold in markets around the world. Oil trade and its products are a complex network of wells, offshore platforms, pipes, tankers and refinery. Oil, more than any other commodity, may have important worldwide political consequences because of its very high importance as a source of energy.
In oil trade, as with others, products first on markets that provide the highest value to the supplier. Everything else is the same, it will mean that the nearest markets are first accepting the product because it costs the least to get it there. After satisfying the needs of the nearest market, the product moves to the nearest closest, etc.
This phenomenon is visible in the fact that while the Middle East is extremely more oil than any other region, the country consumptionNo oil in the Western hemisphere, such as the United States, tends to rely more on oil produced in other Western hemisphere countries such as Canada, Mexico and Venezuela. However, it should be noted that there is a real global dependence on the Middle East, especially in the countries of the Far East.
There are four main types of oil sources: conventional oil, heavy oil, extra heavy oil and bitumen, semi -efficient form of oil, as found in Canadian oil sands. Conventional oil is only about 30% of the world's oil reserves. While conventional oil can be extracted using traditional oil methods, heavier oils and bitumen are sometimes so strong and heavy that they must be heated or diluted before they flow.
The two main types of transport, tankers and pipes, and is necessary in the oil store. Tankers allow oil trade between continents and are effective and cheap as they achievet. Tankers of different sizes are used depending on the distance to transport oil. For example, exports from the Middle East usually have a high volume and need to travel long distances. Tankers used for this export can transfer over 2 million barrels of oil to the cruise.
On the other hand, the pipeline is used to transport oil through soil and on continents. Pipes are almost always cost -effective for oil transport on the ground. In the United States alone, there are about 200,000 miles (321,869 km) of oil pipes that cross the continent from regions that produce oil to those that consume it.
refine is one of the last phases of the road that is oil trade. Improvement of raw oil is also called distillation because the oil is heated and inserted into the distillation column. Like heated, various products or "spirits", cooked at different temperatures and then obtained, transported and sold as products we use every day like diesel, BenEarnings and home oil.