Russian oil exports are increasingly struggling, given the strong dependence on "unfriendly countries". IEA's call of 2.5-3mbd crude supply losses looks plausible but is at loggerheads with range-bound oil prices.
As the US and UK join a growing list of trading and refining companies in abandoning Russian oil barrels this week, the repercussions of an increasingly starved global oil market will deal a hard blow on Asia's economy.
Following the recent news of sanction placements as well as the oil and freight price behaviour over the past few days, we give a brief update on the fate of crude tanker markets, which looks ominous for shipowners.
Oil prices are set to rise strongly, as Russian supplies to the market are getting delayed or cancelled down the line. We try to give an overview on crucial factors for rebalanced the market in unchartered territory.
In this insight, we will drill into the details of export trends among the most important sweet crude producers for the global market.
Omicron: pre-emptive supply cuts & resilient demand draw stocks and lift prices
Total oil and gas seaborne departures rose to record highs in November. We investigate the main contributors and drivers behind the rise.
Within a month the oil market has been turned upside down. A wave of seaborne oil & gas supplies emerged in November, helping to cool prices already ahead of Omicron's appearance.
The Biden administration announced today a historical Strategic Petroleum Reserve (SPR) release, but rather than cooling oil prices it led to a spike, at least in the short term.
Asia’s imports of sweet crude oil are on track to rise sharply in November as the region’s refiners pivot buying activity, at least in part, to minimise elevated desulphurisation costs.
Seaborne crude oil supplies made a step higher in October and early November, as core OPEC+ suppliers hike exports. But this is not necessarily bearish as it exposes a lack of spare capacity.
Vortexa looks deeply into oil shipments with strong visibility especially into the more opaque corners of the market to evaluate at the status quo of the oil demand recovery and evaluate if there is good reason for OPEC+ to be hesitant in unleashing oil supply onto the market.
Vortexa CEO Fabio Kuhn joined Bloomberg's IP Week panel discussion to discuss what demand recovery might look like across the commodities ecosystem in 2021, alongside leaders from Vitol, VARO Energy, and JP Morgan.