Oil Price Deflates While Warning Lights Are Flashing

Copyright © 2022 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Crude oil prices are deflating, and price spreads reflect a market that will have enough crude through year-end, and beyond. Barring any major production outages, that seems indeed the most likely scenario as non-Opec-plus output reaches pre-Covid-19 levels and ramps up. But this market is not different from how the year started when pressure on crude came from the refined product side, especially diesel, gasoil, kerosene and jet fuel. Refiners have been boosting runs and managed to halt the relentless draws of key products. But all indications are that product supply for the lower end of the barrels will be short.

Oil Prices, Oil Futures and Derivatives, Oil Products, Crude Oil, Refining, Oil Supply, Oil Demand, Oil Forecasts
Wanda Ad #2 (article footer)
Supply is on the edge of running short for products and even crude, keeping prices strong, despite sentiment shifting bearish on the economic outlook.
Mon, Sep 19, 2022
Oil prices snapped a four-week losing streak just as markets head into what promises to be a tumultuous fourth quarter.
Fri, Sep 30, 2022
High freight costs and a steep backwardation in the price curve have rendered West African fare uncompetitive in Asia and Europe.
Thu, Sep 29, 2022