Oil bourse explained

An oil bourse is a commodities exchange where energy commodities such as crude oil and natural gas are traded. Examples include the New York Mercantile Exchange and the Intercontinental Exchange.^{[1] [2]}

In 2005, an Iranian oil bourse was announced and promised to offer an alternative to trading oil in petrodollars, using instead the petroeuro as its trading currency.^{[3] [4]} Despite several attempts to implement it over one and a half decades, the Iranian oil bourse never got off the ground and in January 2020 was officially cancelled.^[5]

References

1. Book: Gokay, Bulent. Politics of Oil: A Survey. Routledge. 2006. 978-1-317-54248-3. Oxford and New York. en.
2. Book: Fazi, Elido. Third World War?: A Geopolitical Reading of the Financial Crisis. Fazi Editore. 2012. 978-88-6411-637-2. Rome, Italy. en.
3. Book: Jonsson, David J.. Islamic Economics and the Final Jihad: The Muslim Brotherhood to the Leftist/Marxist - Islamist Alliance. Xulon Press. 2006. 978-1-59781-980-0. Maitland, FL. 299–301. en.
4. Book: Vassiliou, Marius S.. Historical Dictionary of the Petroleum Industry. Scarecrow Press. 2009. 978-0-8108-6288-3. Historical Dictionaries of Professions and Industries. 3. Lanham, MD, Toronto and Plymouth, UK. 164. en.
5. Web site: Budget Review Commission of the Parliament Opposes Establishment of the Oil Bourse. Iran Mercantile Exchange. 12 January 2020.

See also: Iranian oil bourse and International Petroleum Exchange.