Markets

The week of Apr. 14 witnessed a dynamic interplay of factors influencing crude oil futures.

The global oil market is not operating under typical supply and demand dynamics as tariffs and geopolitical tensions take center stage.

The US oil production landscape is currently characterized by a delicate balance between potential growth and significant headwinds stemming from trade disputes and economic policy.

Shell plc has revised its resource estimate for the Selene prospect in the UK Southern North Sea License P2437, according to partner Deltic Energy PLC's Apr. 15 release.

Based on Moscow's new energy plan, Russia anticipates its crude oil production and exports to remain largely unchanged until 2050.

Oil imports reached a 20-month high in Mar., exceeding 12MM b/d, the highest volume since Aug. 2023, as flows from Iran and Russia rebounded following earlier lows attributed to US sanctions.

The intricate web of global oil markets is increasingly defined by geopolitical undercurrents and strategic policy shifts.

Faced with the imposition of substantial tariffs in early Apr., a majority of Asian countries are actively proposing to increase their imports of US energy products as a strategy to avoid these levies.

OPEC+ members have collectively presented plans to offset a total of 4.57MM b/d in previous overproduction, with these compensation measures primarily scheduled between May and Oct. 2025, and aiming for full offset by Jun. 2026.

The week witnessed significant turbulence in the crude oil futures market, primarily driven by escalating trade tensions initiated by US President Donald Trump and the evolving output strategy of the OPEC+ alliance.