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Omani Rial (OMR) What it is The Omani rial (OMR) is the official currency of Oman. It is subdivided into 1,000 baisa and is issued in both coin and banknote form. The currency is managed and regulated by the Central Bank of Oman. Brief history The Omani rial was introduced in the early 1970s, replacing…

Omnibus Account: Definition, How It Works, Benefits, and Risks What is an omnibus account? An omnibus account pools the assets and trades of multiple clients under the name of a single broker or custodian. Transactions are recorded in the broker’s name rather than in each individual investor’s name, while trade confirmations and account statements are…

Omega in Options Trading — Definition, Formula, and Use Omega (Ω), also called elasticity, measures an option’s percentage change in price for a given percentage change in the underlying asset. It expresses the effective leverage of an options position: how much the option moves, in relative terms, compared with the underlying security. Key concept Omega…

Ombudsman: Roles, Types, Advantages & Disadvantages Explained An ombudsman is an independent official who investigates complaints against institutions and seeks fair resolutions through mediation, recommendations, or systemic remedies. Ombudsmen operate in government, industry, organizations, education and media, helping restore confidence, correct maladministration, and prevent abuses of power. Key takeaways Ombudsmen investigate complaints impartially and typically…

Oligopsony: Definition and Overview An oligopsony is a market structure in which a small number of large buyers dominate demand for a product or service. This concentration of purchasing power gives buyers substantial influence over sellers, often allowing them to suppress prices, dictate terms, and shape production decisions across a supply chain. How an Oligopsony…

Oligopoly An oligopoly is a market structure in which a small number of firms control a large share of an industry. These firms can influence prices and output, either through explicit agreements (cartels) or tacit coordination, producing outcomes that differ substantially from competitive markets. Key takeaways A few firms dominate the market, giving them pricing…

Old Lady (The Old Lady of Threadneedle Street) Key takeaways * “The Old Lady” is a longstanding nickname for the Bank of England, shorthand for the Old Lady of Threadneedle Street. * The name originated from an 1797 political cartoon by James Gillray that satirized the Bank Restriction Act and the suspension of gold convertibility….

Old Economy: Meaning and Overview Old economy refers to established, goods-producing industries that expanded during and after the Industrial Revolution. These sectors rely on long-standing production processes rather than information technology and include industries such as steel, manufacturing, agriculture, and traditional energy. While many old-economy firms have adopted modern tools, their core activities and growth…

Old-Age, Survivors, and Disability Insurance (OASDI) Program What is OASDI? The Old-Age, Survivors, and Disability Insurance (OASDI) program is the official name for the U.S. Social Security system. Funded by payroll taxes, it provides income support to retirees, eligible people with disabilities, and their spouses, dependents, and survivors. Its purpose is to partially replace lost…

Okun’s Law: Definition, Formula, and Key Insights Okun’s Law describes an empirical relationship between changes in unemployment and changes in a country’s output (GDP). It is best understood as a rule of thumb: higher unemployment tends to accompany lower GDP, but the exact magnitude of the relationship varies across time and place. Key takeaways *…

Oil Sands Oil sands (also called tar sands) are deposits of sand and rock that contain crude bitumen — a dense, highly viscous form of crude oil. Bitumen is too thick to flow naturally and must be extracted and upgraded before it can be refined into fuels such as gasoline and jet fuel. Where oil…

Understanding Global Oil Reserves: Key Facts and Insights Key takeaways – Oil reserves are estimates of recoverable crude oil in a region using current technology. – BP’s 2021 review estimated ~1.73 trillion barrels of proven global reserves (2020 data); OPEC reported ~1.56 trillion barrels in 2022. – Venezuela, Saudi Arabia, and Canada hold the largest…

Oil refineries Key takeaways * An oil refinery converts crude oil into usable petroleum products (gasoline, diesel, jet fuel, kerosene, asphalt, lubricants). * Refining is the downstream segment of the oil and gas industry; many companies operate upstream, midstream, and downstream functions. * Distillation is the primary first step; additional processes such as cracking produce…

Oil Price to Natural Gas Ratio What it is The oil price to natural gas ratio measures the price of crude oil relative to natural gas. It is calculated as: oil price per barrel ÷ natural gas price per MMBtu Explore More Resources › Read more Government Exam Guru › Free Thousands of Mock Test…

Oil Pollution Act of 1990 The Oil Pollution Act of 1990 (OPA) is a U.S. federal law that strengthened the nation’s ability to prevent and respond to oil spills. Passed as an amendment to the Clean Water Act in the wake of the Exxon Valdez disaster, the OPA established a comprehensive federal framework for prevention,…

Oil Initially In Place (OIIP) Oil initially in place (OIIP) is the total volume of crude oil estimated to exist in a reservoir before production. It represents the quantity physically present in the subsurface, not the amount that can be recovered economically. OIIP is a starting point for reservoir evaluation and informs decisions on development,…

Oil Field: Definition, How It Works, and Key Considerations What is an oil field? An oil field is an area of rock beneath the Earth’s surface that contains economically recoverable accumulations of hydrocarbons (crude oil and/or natural gas). These hydrocarbons are typically found in porous reservoir rock and are trapped by an overlying impermeable layer…

Oil ETFs: What They Are and How They Work What is an oil ETF? An oil exchange-traded fund (ETF) is a publicly traded fund that gives investors exposure to the oil market without buying physical crude or trading futures directly. Oil ETFs commonly invest in: * Stocks of companies involved in the oil and gas…

OHLC Chart An OHLC chart (Open–High–Low–Close) is a price-bar chart that displays four price points for each period: the opening price, the highest price, the lowest price, and the closing price. Traders use OHLC charts to assess momentum, volatility, and short-term price structure across any timeframe (e.g., 5-minute, hourly, daily). How to read an OHLC…

Offtake Agreement An offtake agreement is a legally binding contract in which a buyer commits to purchase, and a producer to sell, goods that are to be produced in the future. These contracts are commonly used in capital-intensive and volatile industries such as energy, mining, and natural resources to secure revenue streams and make project…

Offshore Portfolio Investment Strategy (OPIS) Overview The Offshore Portfolio Investment Strategy (OPIS) was an abusive tax-avoidance scheme sold by KPMG in the late 1990s. It used offshore shell companies and contrived transactions to generate artificial losses that corporations claimed against legitimate U.S. taxable income, reducing their tax bills without any genuine economic purpose. Explore More…

Offshore Mutual Fund: Meaning, Risks, Advantages Offshore mutual funds are investment vehicles domiciled outside an investor’s home jurisdiction, often in countries with favorable tax or regulatory regimes. They provide access to international markets and potential tax efficiencies, but they also carry distinct regulatory, tax, and operational risks that investors should understand before investing. Key takeaways…

Offshore Banking Unit (OBU) An offshore banking unit (OBU) is a branch, subsidiary, or separate unit of a bank established in a foreign financial center to provide banking services denominated in foreign currencies (often called eurocurrency). OBUs serve international clients and transact largely outside the domestic banking system of the country where they are physically…

Offshore Finance: Definition, Benefits, and Risks Key takeaways Offshore means conducting business, banking, or investing in a country other than one’s home jurisdiction to take advantage of favorable laws, lower taxes, or reduced regulation. Offshore financial centers (OFCs) can provide tax efficiency, asset protection, confidentiality, and cost savings — but they attract regulatory scrutiny and…

Offsetting Transaction: What It Is and How It Works An offsetting transaction is an activity that cancels or neutralizes the economic exposure created by a prior trade or position. Traders and investors use offsetting transactions as a risk-management tool to eliminate market, credit, or directional risk without requiring the original counterparty’s consent. Key points Offsetting…

Offset Mortgage Overview An offset mortgage links a mortgage loan to one or more deposit accounts held with the same lender. Instead of earning interest on those deposits, the account balances are used to reduce (offset) the mortgage balance on which interest is calculated. That lowers interest costs and can shorten the time it takes…

Offset (finance) Offsets are actions that neutralize or reduce the risk or liability of an existing financial position by taking an equal and opposite position. They are used across trading, accounting, banking, and corporate finance to manage exposure, avoid obligations, or stabilize results. Key takeaways An offset is an opposite position taken to counterbalance an…

Offline Debit Card: What They Are and How They Work What is an offline debit card? An offline debit card is a payment card linked to a bank account that authorizes purchases without an immediate online authorization. Instead of debiting the account instantly, transactions are processed later—typically within 24 to 72 hours. Offline debit cards…

Official Strike Definition An official strike is a work stoppage endorsed by a union and conducted in compliance with the legal requirements for striking. When properly authorized, an official strike is recognized as protected concerted activity under U.S. labor law. How an Official Strike Works Legal framework: In the United States, the National Labor Relations…

Official Settlement Account: What It Is and How It Works Key takeaways * An official settlement account (OSA) records international reserve transactions between central banks and government monetary authorities. * OSAs track transfers of gold, foreign exchange reserves, bank deposits and special drawing rights (SDRs) used to settle balance of payments imbalances. * They are…

Office of Thrift Supervision (OTS) What it was The Office of Thrift Supervision (OTS) was a bureau within the U.S. Department of the Treasury that regulated the nation’s thrift industry—primarily savings and loan associations and other institutions focused on consumer and mortgage lending. It issued federal charters, supervised thrift operations, and enforced regulations to maintain…

Office of the Superintendent of Financial Institutions (OSFI) What OSFI is The Office of the Superintendent of Financial Institutions (OSFI) is an independent federal agency that supervises and regulates Canada’s federally regulated financial sector. Its remit covers banks, insurance companies, trust and loan companies and federally regulated private pension plans. Mission and objectives OSFI’s core…

Office of the Comptroller of the Currency (OCC) What the OCC is The Office of the Comptroller of the Currency (OCC) is a federal agency that charters, regulates, and supervises national banks, federally chartered savings associations (thrifts), and federal branches and agencies of foreign banks operating in the United States. The OCC is an independent…

Office of Foreign Assets Control (OFAC) Overview The Office of Foreign Assets Control (OFAC) is a division of the U.S. Department of the Treasury responsible for administering and enforcing U.S. economic and trade sanctions. OFAC implements measures to advance U.S. foreign policy and national security objectives by targeting foreign countries, regimes, terrorists, narcotics traffickers, proliferators…

Offering Price — What It Is, How It Works, and Practical Implications Definition An offering price is the per-share price set by an underwriter (usually an investment bank) when newly issued securities are offered to investors. In the context of an initial public offering (IPO), it is the price at which the underwriting syndicate allocates…