• Focus Area Future of Global Oil Markets Future of Global Oil Markets
  • Type Workshop brief
  • Date 26 March 2023


Phantom oil is oil that is deliberately moved from legally recognized sources or traded in the black market. It is also frequently referred to as illegal, illicit, tacit, or unregistered oil. This oil is generally concealed from the energy community for various reasons, including to evade sanctions and to profit from cross-market price differentials. This arbitrage opportunity can be attributed to the existence of price incentives, taxes, and loose institutional structures.

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