Fundamentals of Petroleum Trading

(Hardback)

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An examination of the workings of and the issues surrounding today's oil trading market as applied to all parties involved in the production, distribution, and consumption of petroleum. The authors present a description of petroleum spot markets, futures and options trading, as well as their interlinkages with contract sales, and challenge the generally accepted view that spot and futures trading have wrested the power of price setting away from OPEC.

Author Bio

HOSSEIN RAZAVI is Principal Energy Economist for the World Bank. His articles on energy and the petroleum industry have appeared in such publications as the Energy Journal, Annual Review of Energy, Energy Economics, Southern Economic Journal, and Applied Economics. FEREIDUN FESHARAKI is Leader of the Energy Program at the Resource Systems Institute, East-West Center, in Honolulu. He has published more than fifty papers and is the author of twelve books on the petroleum industry.