There is a new era for oil & gas traders in the Middle East, where digitalisation is not only desirable but becoming increasingly critical to manage a changing market landscape. Oil prices have fallen, in part due to a strong US dollar, increased supply, and decreased demand. The industry can no longer rely on personal relationships and a small number of large contracts in order to survive. Instead, sustained lower oil prices have forced traders to look for new markets and improve efficiency to protect profit margins.
Some of the largest oil companies by volume are based in the Middle East. These companies know a new era of trading has arrived and they need to be more dynamic and fluid to quickly react to market changes. These businesses are adopting the latest and best technology to give them an advantage in the marketplace.