Duties
- Marketing and Broking of different oil products and its by-products.
- Acts as a middle person between the oil seller and the buyer by assisting in the transactions and negotiations of both parties.
- Arrange and facilitate the purchase and sales of oil products.
- Must search for clients that have the capability to sell oil products and clients who are in need and looking to buy the said products.
- Track market movements, follow the financial news, analyze and understand the behavior of trade of oil in the market.
- Making instant and wise decisions regarding the business through figures and statistical data from market reports.
- Communicate with their co-workers and clients through messaging, phone calls or the use of computers.
Working Conditions
- Brokers sit at a workstation in a bargain room, monitoring hectic market movements and oil industry information on computer screens.
- Regularly travels to attend business trips, seminars and transactions.
- Typically works 4o hours a week or more in a stressful manner.
- Brokers in trading floor, job can be full of stress and noise. Those not in trading floor spend most of their time doing computer works and making phone calls.
- Brokers work at financial offices and centers. Such are located at big, progressive and center of trade cities like New York.
Educational Requirements
- There are no formal qualification regarding education is required for brokers.
- Most oil brokers hold a bachelors degree but may vary depending on the employer. Any degree would do but education related to Engineering or Businesses is an upper hand.
- Should have a mathematical and scientific background for analytical skills.
- Able to speak different languages most especially English to communicate well with your clients.
Occupation and Progress
Like many other industries, the oil industry is a part of the energy industry that needs skilled workers to sustain the challenges of energy demand in the world. Brokers help to balance the needs with the present supply of energy. Oil is the most used form of energy in the world today. Choosing oil broker as a career is a wise option because the need of energy is growing so the need of more oil brokers is essential.
Oil brokers are paid commission on what and how much they sell. Oil prices nowadays are much higher than any commodities which mean oil brokers have greater income especially when they sell more through deals and transactions. Adding to that, most of oil purchasing clients purchase at a large amounts.