Oil traders are the people who make the business of buying, selling, transporting, and storing oil a reality. While it might seem like their role in the industry is simple, they are critical to the international economy and their actions can have global implications.  

An oil dealer is someone who buys and sells crude oil and other petroleum products on the global market. They can work for oil companies, investment banks, or hedge funds.

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Oil traders play a vital role in the global economy by helping to set the price of crude oil. They do this by buying and selling oil futures contracts on exchanges such as the New York Mercantile Exchange (NYMEX).

The price of crude oil is determined by the supply and demand of oil on the global market. Oil traders help to balance the supply and demand of oil by buying when there is more demand than supply (which drives up prices) and selling when there is more supply than demand (which drives down prices).

Oil traders are important for a number of reasons. First, they provide the world with much-needed oil supplies. Second, they keep the prices of oil stable and predictable, which helps to ensure that consumers can afford to heat their homes and drive their cars. 

Third, oil traders help to ensure that oil producers receive a fair price for their products. Finally, oil traders contribute to the global economy by buying and selling oil on the international market.