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Latest Analysis / Short-term Global Oil Service

Weekly Fundamentals - Bearish oil market mood returns as uncertainty on coronavirus remains

Published: 13 February, 2020


  • Huge downwards revisions to China/world oil demand consensus in 1Q20; but not enough?
  • Russia (and now Kazakhstan) still prevaricating whether to accept OPEC+ new output cut proposal
  • As pessimism looms, Brent and WTI in contango until Oct/Nov contracts
  • Urals/Brent diffs likely to widen in NWE/Med
  • Libya & ...

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