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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
Oil demand ramps up air miles
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
Markets
Neil Fleming
9 January 2024
Follow @PetroleumEcon
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Outlook 2024: Brent’s WTI transfusion – A new lease of life or a whole new animal?

With crude production forecast to grow through 2028, what benchmark is going to lead the way?

If there is a second Cold War, then it is in part a struggle between Washington and Moscow for control of Europe’s energy supplies. And the US appears to have just won it. Not only has its crude oil in essence physically replaced all the Urals that Europe stopped buying when Russia invaded Ukraine, but its natural gas—in the form of LNG—has become the replacement of choice for Russian gas. And now US crude West Texas Intermediate (WTI) has reverse-colonised the price of Brent.What was unthinkable as little as six years ago has happened. Europe’s large oil companies, trading houses and refiners have agreed to allow WTI to be included in the mechanism that determines Dated Brent. WTI joined th

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Countdown to Mozambique LNG restart
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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