This paper starts from the recognition that despite the importance of the commodity trading sector for domestic resource mobilisation in many developing countries, engagement by OECD Development Assistance Committee (DAC) members with the commodity trading industry has been limited. The paper provides insights on the world of oil-commodity trading, shedding light on the actors, jurisdictions, and most common instruments through which trades are realised. It considers how these come together, the related risks in terms of illicit financial flows, and how these have been addressed to date.