Markets

This week in crude oil futures saw significant volatility driven by a confluence of factors.

ADNOC has initiated trading Dubai crude through the S&P Global Platts pricing process, a rare move for a Middle Eastern national oil company.

Eight OPEC+ nations agreed to increase crude production from Apr., unwinding 2.2MM b/d of

US crude oil exports to India reached a two-year high in Feb., hitting 357K b/d, as Indian refiners sought alternatives due to recent US sanctions on Russian oil trade.

Kazakhstan's oil production reached a record high of 2.12MM b/d in Feb., a 13% increase from Jan. driven by a significant rise in output at the Tengiz oilfield..

2025-03-08

Analysts and economists predict oil prices will remain subdued in 2025, primarily due to sufficient oil supply and spare capacity within OPEC+.

bp (formerly BP) is undergoing a substantial strategic overhaul, pivoting away from its prior emphasis on rapid renewable energy expansion and refocusing on its core oil and gas operations.

The week of Feb. 24th to 28th proved to be a volatile period for global oil markets, with Brent and West Texas Intermediate (WTI) futures experiencing significant fluctuations.

Trafigura identifies US foreign policy concerning Iran as a significant upward risk for crude prices, particularly amidst a well-supplied market.