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Oil outlook: Who and what to believe?
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
India’s retreat from Russian oil could cause global trade flow shockwaves
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
OPEC+ off-target in July
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
The great OPEC+ reset
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
A third distillate disruption
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Gas pricing finds a new norm
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
China is the world's largest importer of crude
China Markets
Paul Hickin,
Editor-in-chief
8 August 2023
Follow @PetroleumEcon
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Oil market poised for China showdown

China puts the strategic in SPR as it looks to utilise record oil storage

“China’s oil storage model is based on the strategic reserves around the world,” said tank storage expert Tony Quinn at the annual PGLC petrochemicals logistics event in Marseille in June. “Like with most things, China copies from elsewhere and then does it better, and that is exactly the case with strategic petroleum reserves, as the country’s facilities are enormous and the terminals’ spare capacity is vast,” pointed out the CEO of Tankbank International and operating partner of Prostar Capital, who has close business ties with China’s state-controlled oil giant Sinopec. China may have arrived late to the oil security game, but in the past 20 years it has created significant capacity and a

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Oil outlook: Who and what to believe?
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
India’s retreat from Russian oil could cause global trade flow shockwaves
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher

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