What financialisation means for oil: Ilia Bouchouev of Koch

Investor demand now drives oil prices as much as physical fundamentals


Throughout his 20-year career in energy derivatives, Ilia Bouchouev, president of Koch Global Partners and global head of derivatives at Koch Supply & Trading, has been at the cutting edge of the industry.

Aside from his prominent role, he is perhaps best known for his innovative options-pricing model developed during his PhD study in the late 1990s. Bouchouev’s highly acclaimed model and 1997 paper The inverse problem of option pricing address one of the major shortfalls of the seminal Black-S