How Do Oil Companies Operate?

Question

I am aware oil companies are those that ostensibly extract oil and develop it into more suitable products for economic purposes. However, do they sell the oil directly themselves to manufacturing companies or do they sell them to third party companies (such as oil brokers) who then sell them to manufacturing companies?

What I want to know is if there are "oil companies" who don't actually extract petroleum themselves, but buy it so that they can sell them to manufacturing companies that need the oil???

Answer 1

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