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Latest Analysis / Short-term Global Oil Service

Weekly Fundamentals - Crude prices fall as stocks build and India’s demand outlook deteriorates, but supply outages cap losses

Published: 22 April, 2021

Highlights:

  • Brent Dubai EFS picks up across the curve as GPWs provide support for Brent vs Dubai
  • Current fundamentals and sentiment support Brent; WTI to catch up soon
  • Urals discounts are expected to narrow from mid-May onwards
  • On-land stocks build by 9 mmb in the first half of April
  • Libya – Crude production ...

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