Webinar - Oil & Oil Products
Oil demand growth has been weak in 2019, with the OPEC+ group surprisingly extending their cuts by a further 500 kbd through to end of Q1 in 2020. In spite of that, fears of sustained weak demand growth have restricted Brent to mid US$ 60/bbl. The degree to which the growth trajectory of US tight oil slows will be a critical factor in crude oil pricing in 2020. The refining industry suffered record low margins in the latter few weeks of 2019, as IMO preparations crashed the value of high sulphur fuel oil, with no corresponding uplift in distillate cracks as compliant low sulphur fuel oil stocks have been depleted. Crude oil differentials responded, but with a lag, so hitting refining margins hard, with the gift of Christmas being run cuts.
The implications of the IMO regulation on the refining sector will become clearer as time passes, particularly over the pricing relationships of compliant low sulphur fuels and the associated change in trade flows for high sulphur residues.
Join our webinar where we will be addressing these 3 specific themes:
- OPEC’s dilemma for 2020 – can it manage the global crude oil market?
- How disruptive is IMO on product markets?
- Oil value chain “live developments” - from Genscape
Choose the best timeslot for you and register today.