Description
OTM provides a unique and comprehensive
reference source to the structure and conduct
of the international oil markets. The manual
covers all the major oil trading instruments
and their applications; the trading centres,
contracts, uses and users of both the physical
and the terminal oil markets, and their administrative,
management, tax, and accounting implications.
It also includes vital information on changes
to the international legal and regulatory structures.
The manual is divided into three complementary parts;
- Characteristics An introduction to oil and oil trading, and includes material on the nature of oil as a commodity, refinery processes and the different ways in which oil is priced.
- Instruments and markets Deals with the oil market itself taking each segment in turn, explaining how the various trading instruments work and describing the markets that have evolved to trade them. It starts with the physical oil markets, moving on to forward and futures markets, followed by options and swaps.
- Administration Covers the essential 'back-room' activities without which oil trading could not continue. It includes practical material on operations and logistics, credit control, accounting, taxation, contracts and regulation, and controlling financial risk, providing a unique guide to the subject.