A B2B marketplace refers to a business-to-business e-commerce platform where buyers and sellers interact directly on one platform and exchange goods, transactions, and services.
This trend has made it easier for potential entrepreneurs to start their businesses conveniently on a single platform where they have to only interact with other manufacturers, suppliers, retailers, wholesalers, and other customers who usually buy products in bulk.
B2B online platforms also offer various services like amalgamating and organizing your products and services while providing a platform to expand globally, meet foreign suppliers/buyers, secure payment methods, and reliable shipping options.
In 2019, B2B US sales on e-commerce platforms were 13%, and in 2023, it is expected to rise to a whopping total of 19% by reaching a margin of 1.8 trillion U.S. dollars.
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Crude Oil Prices and Important Markers Considered Globally
The crude oil marketplace is worldwide, and their online trading platforms have made this exchange even simpler with the help of B2B e-commerce sites through which buyers and sellers can interact more easily and offer shipping to all across the world efficiently.
The prices are similar globally but can be affected by different factors like supply/demand balance, competition, financial markets, government policies, and transportation costs.
For example, if consumption exceeds supply, that will, in turn, cause prices to shoot up. So, the prices of crude oil keep varying depending on the above factors
The three major markers of crude oil that are used in the interpretation of its prices are Brent representing the European/West African market, OPEC with 13 member countries, and WTI (West Texas Intermediate) for the US market.
According to June 26, 2023, the crude oil price per barrel of Brent was at $74.35 dollars, OPEC basket at $74.65 dollars, and WTI at $69.37 dollars.
Now let’s take a glimpse on the 10 best B2B marketplaces where you can easily buy or sell crude oil without any hassle or difficulty.
1. eWorldTrade
eWorldTrade is one of the leading B2B marketplaces for e-commerce that aims to provide trusted, quality services while managing reliable and cost-effective benefits for its customers.
It provides one of the largest platforms for B2B services where you can sell and buy crude oil conveniently and efficiently with their verified connected buyers, trade-in confidence, and their 24/7 help centre available at all times.
They also offer premium services with all types of plans to their customers, which will undoubtedly help them grow their business securely and safely.
2. Global Trade Plaza
Global Trade Plaza started as a way to provide a safe and accessible platform for small and local businesses in India to expand their growth worldwide and thrive easily in this overly competitive e-commerce community.
They have solved various obstacles faced by the Indian community in trading and have made a name for themselves in the global market by expanding across the sphere and reaching overseas to connect with and interact with more diverse communities to trade crude oil easily.
3. TradeBoss.Com
TradeBoss.com has established itself as a successful international B2B marketplace by operating worldwide with tremendous benefits and services provided to hundreds of thousands of listed suppliers.
Currently, they have 644,445 registered and verified members, and 104,700 products, including crude oil, and have partnered with 50+ countries worldwide while targeting 232 in total to become the biggest business-to-business network.
You can take a look at their inventory of crude oil shipping from several countries including India, Russia, Nigeria, and a lot of others with varying prices.
4. Global Sources
With the help of 10 million registered buyers and users worldwide, Global Sources has become an internationally recognized multichannel B2B platform that aims to bring ease to the global networking community.
They have promised to provide authentic and tailored trade solutions and information to help businesses seek opportunities through which they can reach the international market to trade crude oil easily and reliably.
At present, they have registered Crue oil under a minimum order of 500 metric tonnes with a selling price of $180 – 250 dollars per metric tonne. Besides this, they also have apps, trade shows, magazines, and live talks to help more businesses grow and expand.
5. ECPlaza
ECPlaza has been providing its services since 1996 and has become the No. 1 trade leader in the e-commerce market by providing online and offline services to its 1 million members.
While providing a platform to trade crude oil safely and rapidly, they have also been providing trade consulting with the help of a variety of trade experts, marketing research, and public relations.
Presently, they are taking orders for crude oil with a minimum of 20 tonnes at $320 – $780 per tonne. They aim to provide a “one-stop trading network” that will help in the entire trading cycle to support cyber businesses grow more.
6. EC21
EC21 has risen to become the world’s largest online B2B marketplace by providing 7 million products, 2.5 million members, and around 3.5 million visitors monthly.
They provide all sorts of internet and social media marketing and even provide trade education programs to facilitate the trading of crude oil worldwide.
Crude oil currently listed on their website has a minimum order quantity of 25000 metric tons for US$560 with a 30-day delivery time and often has sales and discounts going on year-round.
7. Thomas
Thomas, a Xometry company, has become the number one industrial marketing platform by serving professionals on both sides by providing them services to alleviate their entire process of building businesses, making decisions, and expanding reach.
They have about 420 crude oil suppliers in their 500,000 commercial and industrial supplier directories, with more than 6 million industrial products.
8. Global Oil and Gas Trading
Global oil and gas trading is listed as the top trading platform for petroleum products with its favored and trusted marketplace platform. To support the complex operations and data management needs of the oil and gas industry, companies may rely on specialized oil and gas software development services to create tailored applications, ERP systems, and digital solutions that optimize workflows and drive operational efficiency.
The global oil market is very dynamic and varies, which requires a good understanding of data, price forecasting, and market development insights to acquire and improve market transparency.
They keep track of all the factors affecting oil prices, like demand, inventory, infrastructure, refining, and trade flows, to ensure safe and secure oil trading.
9. Go4WorldBusiness
Go4WorldBusiness is the fastest-growing trade portal and an online directory that guides millions of international buyers and importers every day to exchange and trade reliably with safe shipping and payment opportunities.
Besides this, they also provide the feature of a free profile setup to their potential members and even paid plans to help them grow with a 100% money-back guarantee.
This allows smaller to medium-sized companies and enterprises to start their oil trading easily and conveniently, along with their learning school services to teach all the basics and know-how of starting a business and dealing with international and local partners.
10. Alibaba
Alibaba is a Chinese multinational technology company that specializes in e-commerce and offers millions of opportunities to its members to reach the Chinese and global marketplaces with ease and helpful guides.
It is one of the largest retail companies, which has generated a total revenue of $128.094 billion as of June 2023 and is expected to continue rising shortly.
With millions of verified suppliers and products, including crude oil, they have made the online B2B marketplaces much easier and safer for both sellers and buyers
Alibaba has reached the international market much faster than any other with their reliable services, which have helped their members tremendously in this e-commerce ecosystem to grow firmly and largely with their help.
Conclusion:
Provided above are the top B2B marketplaces that you will need to know about to enter this ever-growing retail industry of crude oil. These platforms are the best leading enterprises that will provide complete help, from teaching to establishing your business on this global platform, and thrive easily to expand your reach.
