This has been one of the most lucrative years on record for the world’s top oil trading firms, which made eye-watering profits during the market meltdown in the second quarter (PIW Jun.19’20). But, as the turbulence subsides and oil prices appear to settle in a $40-$50 per barrel range, fat profits won’t be as easy to come by and traders can expect bigger challenges in 2021 (PIW Oct.23’20). A key issue the trading firms must address is transparency.
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