Event News
Added Feb 24, 2022

Event highlights: Vortexa Energy Market Update 2022

Share this article
Vortexa Newsletter Subscribe and get Vortexa news straight to your inbox

Vortexa were proud to host the Energy Market Update 2022 this week, as a pre-IE Week celebration event to bring together industry leaders, held in a hidden venue in Mayfair, London.

Joined by over 80 attendees, guests experienced a market-leading presentation from Vortexa Chief Economist David Wech, followed by a panel with Vortexa CEO Fabio Kuhn and The Baltic Exchange CEO Mark Jackson reflecting on industry developments in the energy and freight markets, followed by world-class wine & canapés. 

The first session titled Tightness in crude and products, spare capacity in shipping presented by David Wech, highlighted recent market dynamics in the oil and gas markets, backed by Vortexa Analytics. The key takeaways were:

  • The oil market is running short of spare capacity. OPEC+ exports remain range-bound for fourth month in a row, and the lack of freely available capacity is also a big issue in refining
  • New grassroot refineries and potential supply comebacks from US shale and Iran may alleviate the situation, but not before H2 2022
  • Up- and downstream players may struggle to meet demand, giving room to further price/margin increases, risking (or possibly requiring) demand destruction on the way
  • Demand upside for fuel oil and jet, concerns on naphtha/LPG
  • Refining maintenance and outages to be closely watched
  • Gasoline taking lead from diesel
  • The system is operating at the limit, making further stockdraws unlikely and questioning the relationship with market structure
  • In difference to crude and product, tanker markets show ample capacity and poor pricing

View the full presentation here, and check out some photos of the night below:

IEWEEK_collated

The event was live-streamed on the night. To watch the recording of David's presentation and the panel with The Baltic Exchange, click the button below. 

Watch now

Thank you to everyone who joined us on the night, and we look forward to seeing you again for IE Week 2023!

The latest news

May 24, 2022
Oil and Gas
blog-events
name
Listing_Summary-Vortexa_July2019

Although global middle distillates have led refined product cracks for the last 2.5 months, increased supplies have prompted a downturn in diesel and jet cracks while gasoline cracks take the lead in the refinery margin complex on a global level. Refineries appear now to be shifting towards gasoline production and away from middle distillates. Given the healthy economics, global gasoline supplies are on the rise as seen in the Vortexa export data. 

subscribe_insight-form
blog-tag
location
banner_bg
getintouch-section
post_body
May 19, 2022
Freight
blog-events
name
Listing_Summary-Vortexa_July2019

In this insight, Vortexa examines the current status-quo for VLCC rates, and provides an outlook of whether the repositioning to the Western hemisphere can prove to be supportive in the months to come.

subscribe_insight-form
blog-tag
location
banner_bg
getintouch-section
post_body
May 10, 2022
Freight
blog-events
name
Listing_Summary-Vortexa_July2019

Clean tanker rates in the East of Suez have remained at a high level despite erratic demand in the region. The main driver of this situation lies on the supply side. In this insight we dive into the dynamics behind rates in the East, and link the chain of events to trace the freight rate trajectory.

subscribe_insight-form
blog-tag
location
banner_bg
getintouch-section
post_body

Get in touch today for a free trial