Specialized firms that buy and sell physical oil on global markets. The impact of Russian oil sanctions on energy markets
Formerly known as Standard Oil of California (Socal). Shell and BP (formerly British Petroleum). State-Owned and Regional Corporations: companies that buy crude oil
The companies that buy crude oil are primarily that process it into petroleum products like gasoline, diesel, and kerosene. These buyers are typically large integrated oil companies or specialized independent refining firms. Major Global Buyers Specialized firms that buy and sell physical oil
While thousands of smaller entities exist, the market is dominated by major multinational and state-owned corporations: companies that buy crude oil