What is The Most Traded Commodity In The World?
The most traded commodity in the world is crude oil. Crude oil, often referred to as "black gold," is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. A global economic staple, crude oil's significance extends beyond its primary function as a fuel source; it is also a critical component in the production of a wide array of materials including plastics, chemicals, and pharmaceuticals. The extensive global trading of crude oil stems from its vital role in almost every aspect of modern life and industry.
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