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Oil Auctions Replace Tenders- Another Nail In OPEC’s Coffin

Oil Auctions Replace Tenders- Another Nail In OPEC’s Coffin

August 9, 2017

The DME has introduced an auction system for physical crude oil and this year Iraq and Malaysia, as well as other producing countries, have begun to use the electronic auctions instead of the tender system for selling their physical crude oil. In my latest piece for Seeking Alpha, I explain why the auction system is likely another nail in OPEC’s coffin, and why it is likely to improve the convergence between physical and derivative instruments in the oil and perhaps other commodities markets.

Article: Oil Auctions Replace Tenders- Another Nail In OPEC’s Coffin

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