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|Glossary of petroleum Industry||Download this dictionary|
One who acts as a go-between in the domestic or international crude oil market. A broker will find a market for a quantity of crude or product not committed by long-term contract. Just as readily, he will come up with oil for someone who wishes to buy. Brokers perform a useful function in the oil business by being knowledgeable about the industry's supply and demand situation. He is the unobtrusive link between buyer and seller, independent producer and small refiner. For his services, the broker receives either a flat fee or a percentage of the deal he helps consummate.
The following video provides you with the correct English pronunciation of the word "OIL BROKER", to help you become a better English speaker.
| OIL BROKER in English
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