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Published: 24th January 2011
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Crude Oil has today become the most sorts after commodity of modern era. Special attention is paid by various states all around the world for its sale and purchase. For some countries purchase of oil is most valuable purchase in their national budgets while for others it is major source of their earnings. Whichever way we look at this, it still remains high in importance for both the buyer and sellers.

Many countries only allow government establishments to sell and purchase oil and while other allow private participation in crude oil trading. We can find buyer of crude and its derivative products (such as Fuel Oils, Petrochemicals, Bitumen, waxes etc.) both on and offline. One of the most popular ways to find buyers is visiting a Business to Business (B2B) website wherein you can find many buyers. Numbers of buyers post their requirements on these websites and you can choose to contact suitable buyers. These websites would also help you in getting an idea on what your competition is up to.

Most important step after starting communication with you prospective buyer would be to ask him for proof of funds (POF) so that you can be assured that you are investing your efforts in the right direction. There are many fake buyers on the internet who can con you, therefore one must be vigilant all the time and make efforts to establish genuineness of such contacts. Likewise the buyer also may not be sure about your credentials and may ask you to provide him with proof of product (POP). You should keep yourself prepared with the necessary documents in this regards.

While looking for crude oil buyers through B2B websites another important thing to be aware of is that many establishments posing as buyers may not be the actual buyers but intermediaries who work on behalf of actual buyers and are mostly on look out for spot deals. Please ensure and insist upon direct communication with the actual end buyer of the product in case you are dealing through an intermediary company. Selling oil to serious buyers may need professional experience and expertise on your part which would help the deal mature and translate into a commercial sale. Wishing you all the best.

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