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Podcast - Recorded on Nov 19
Posted: Mon Nov 20, 2023 8:59 am
by dan_s
https://www.youtube.com/watch?v=KI3zjaWJA7E
You can always find the most recent podcast on the EPG website home page.
Re: Podcast - Recorded on Nov 19
Posted: Mon Nov 20, 2023 9:12 am
by dan_s
Summary of the IEA's November "Oil Market Report" can be found here: https://www.iea.org/reports/oil-market-report-november-2023
Read the last paragraph carefully:
"Top oil exporters Saudi Arabia and Russia confirmed in early November they would continue with their additional voluntary output cuts until the end of the year. Those cuts look set to keep the oil market in a significant deficit through year-end, with the OPEC+ alliance pumping 900 kb/d below the demand for its crude. Global observed crude oil inventories fell by a massive 140 mb over the third quarter to a fresh low, according to the available data, as refineries boosted activity ahead of seasonal maintenance. With demand growth set to slow, the market could shift into surplus at the start of 2024. For now, with demand still exceeding available supplies heading into the Northern Hemisphere winter, market balances will remain vulnerable to heightened economic and geopolitical risks – and further volatility ahead.