Daily Oil Fundamentals

Plunge in Inventories Guaranteed

11 Sep 2023

Plunge in Inventories Guaranteed

The major price driver in our market last week was the decision by the two OPEC+ heavyweights and now seemingly inseparable allies, Saudi Arabia, and Russia, to extend production/exports constraints totalling 1.3 mbpd until the end of the year.

Daily Oil Fundamentals

So many moving parts, so many questions

08 Sep 2023

So many moving parts, so many questions

The US Inventory Report came and went yesterday and probably left as many questions as answers as far as price performance is concerned.

Daily Oil Fundamentals

Suppliers Pyrrhic Victory over Consumers

07 Sep 2023

Suppliers Pyrrhic Victory over Consumers

Anyone questioning the price driver behind the current oil price rally just has to have a glance at yesterday’s settlement prices to realize that it is supply.