Exclusive Report: A bullish cocktail lining up for remainder of 2023
The global oil market enters into a season of growing tightness as crude production cuts and refinery outages are stacked against the backdrop of resilient demand. While dirty tanker rates have taken a hit, those of clean tankers could see upsides with arbitrage flows picking up.
Key report takeaways:
- Global crude market to remain tight amid extended OPEC+ production cuts and limited supply upsides from non-OPEC producers.
- Unplanned refinery outages and upcoming autumn maintenance are curtailing refined product supplies at a time when seasonal demand is picking up globally.
- China’s strong crude import momentum could slow in the weeks ahead, while its clean product exports could be constrained by limited export quotas.
- Dirty tanker rates have been capped by lower OPEC exports, but clean tanker rates could see an uplift from a rise in arbitrage flows.