Tools commonly used in the Oil Brokers industry for day-to-day tasks and operations.

• Bloomberg Terminal
• Reuters Eikon
• Platts Oilgram Price Report
• Argus Media
• Oil Price Information Service (OPIS)
• Energy Intelligence
• Oil Analytics
• Oil Price Charts
• Oil Futures Contracts
• Oil Options Contracts

Common products and services typical of NAICS Code 523999-06, illustrating the main business activities and contributions to the market.

• Crude Oil Trading
• Petroleum Product Trading
• Oil Futures Trading
• Oil Options Trading
• Oil Price Risk Management
• Oil Market Analysis
• Oil Market Research
• Oil Market Forecasting
• Oil Market Intelligence
• Oil Market Consulting

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Series 7: A license that allows brokers to sell securities products. It is issued by the Financial Industry Regulatory Authority (FINRA).
• Series 63: A license that allows brokers to operate in a specific state. It is issued by the North American Securities Administrators Association (NASAA).
• Series 79: A license that allows brokers to engage in investment banking activities. It is issued by FINRA.
• Commodity Trading Advisor (CTA) Registration: A registration that allows brokers to provide advice on commodities trading. It is issued by the Commodity Futures Trading Commission (CFTC).
• National Futures Association (NFA) Membership: A membership that allows brokers to operate in the futures industry. It is issued by the NFA.

A concise historical narrative of NAICS Code 523999-06 covering global milestones and recent developments within the United States.

• The "Oil Brokers" industry has a long and rich history dating back to the early 20th century when the first oil futures contracts were traded in the United States. The industry has since grown to become a global market, with major players such as BP, Shell, and ExxonMobil dominating the market. Notable advancements in the industry include the development of electronic trading platforms, which have made it easier for brokers to buy and sell oil futures contracts. In recent years, the industry has faced challenges such as the decline in oil prices and increased competition from renewable energy sources. However, it remains a vital part of the global economy, with the demand for oil continuing to grow. In the United States, the "Oil Brokers" industry has a more recent history, with the first oil futures contracts being traded in the 1970s. The industry has since grown to become a major player in the US economy, with New York City's Mercantile Exchange being one of the largest oil futures markets in the world. Notable advancements in the industry include the development of new financial instruments such as exchange-traded funds (ETFs) and the increased use of algorithmic trading. The industry has faced challenges such as increased regulation and the decline in oil prices, but it remains a vital part of the US economy, with the demand for oil continuing to grow.

The anticipated future trajectory of the NAICS 523999-06 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Oil Brokers industry in the USA is positive due to the increasing demand for oil and gas. The industry is expected to grow as the global economy recovers from the COVID-19 pandemic and oil prices stabilize. The industry is also expected to benefit from the increasing demand for renewable energy sources, which will require the development of new infrastructure and technologies. However, the industry may face challenges from the increasing competition and regulatory changes. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Oil Brokers industry, reflecting notable innovations that have reshaped its landscape.

• Digital Platforms: Oil brokers are increasingly using digital platforms to connect buyers and sellers, which has made the process more efficient and transparent.
• Blockchain Technology: The use of blockchain technology has increased in the oil industry, which has helped to reduce fraud and increase transparency.
• Artificial Intelligence: The use of artificial intelligence has helped oil brokers to analyze data and make more informed decisions.
• Environmental Sustainability: Many oil brokers are focusing on environmental sustainability by investing in renewable energy sources and reducing their carbon footprint.
• Mergers and Acquisitions: The industry has seen a number of mergers and acquisitions in recent years, which has helped to consolidate the market and increase efficiency.