There is a burning need around the earth for alternative fuels, nearly every country on the planet recognizes that, limited availability and long term environmental damage are just two of the reasons mankind has been actively looking for alternatives recently, but until we manage to come up with a viable and commercially affordable solution, the traditional means of energy supply will continue to dominate the market place, and among all the commodities you can trade binary options on, Crude oil is quite possible the king, and the one with the most importance.

When you take into account just how reliant on oil mankind is, it should come as no shock that the market has multiple competitors, all vying for their share of what is a multi-billion dollar a year industry.

Until the last couple of decades, countries near the Persian gulf and around were the undisputed leaders in oil production, giving them quite the monopoly on it, but in the early 90’s Russia began exploring and harnessing its vast resources and companies began taking advantage of the opportunity they were being given, one of the biggest factors in this emerging market was the newly minted Lukoil company.

Lukoil was founded in 1991, shortly after the fall of the Soviet republic, the thinking behind it was quite simple – up to that point, the Soviet was of doing business was outdated, it called for each step in the production of oil and gas to be handled by separate entities which, naturally, caused the entire process to drag on for ages. Lukoil sought to remedy the situation by integrating its operation and modeling after the more successful western companies that did not face such issues.

As opposed to some of its rivals within the Russian market, Lukoil is a publicly traded company, and was one of the first companies to be listed and traded on the newly minted Russian stock exchange when it opened in 1994.

Success within the Russian market allowed Lukoil to expand its operations to many other countries within a relatively short time span, it currently has operations that include exploration and production in over 30 countries such as Egypt, Iran, Iraq, Saudi Arabia and Venezuela in addition to their ever expanding part in the Russian territory.

While it may not sound like much, Lukoil’s 1.3% of the world’s oil reserves translates to a great deal of potential profits for the company, and can do the same for you if you trade on Lukoil binary options.

Their 2012 output of nearly 90 million tons of oil puts the company in the position of being one of the 20 largest oil and gas producing companies in the world, and their stability is backed by over 150,000 employees and yearly revenues exceeding $140 billion.

Granted, in 2014, the oil market took quite a hit, in both price and appearance, but given the world’s continued need for the product, there is no immediate cause for concern as far as Lukoil binary options go, and besides, as most traders no, it is a lot more fun to trade on a market that’s in a state of decline…

Have no fear, the oil market may be in decline, but if you invest smartly in Lukoil binary options your portfolio are almost assured of avoiding that trend.