Daily Oil Fundamentals

Anything but clear

04 Jun 2024

Anything but clear

Naturally, yesterday was about assessing the potential impact of the weekend’s meeting of major oil producers which form the OPEC+ alliance. To reiterate what was expected: the cartel was widely anticipated to leave quotas unchanged throughout the third quarter and possibly until the end of the calendar.

Daily Oil Fundamentals

OPEC Just Made it Harder

03 Jun 2024

OPEC Just Made it Harder

It is rather unsurprising to see how net longs in WTI, even though increased last week, continue to be at lowly levels.

Daily Oil Fundamentals

Anxiety All Around

31 May 2024

Anxiety All Around

A hesitant market became decisively and hastily panic-stricken shortly after the release of the weekly US oil statistics from the EIA.