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Latest Analysis / Short-term Global Oil Service

Weekly Fundamentals: Crude prices keep rising on signs of stockdraw; but rebound may be getting overdone

Published: 21 May, 2020

Highlights:

  • Crude prices keep rising on signs of stockdraw; but rebound may be getting overdone
  • OPEC+ compliance not as good as it sounds? Doubts about Iraq cuts in particular
  • Cushing/MEH diff narrows further on US/Canada production cuts
  • Urals premiums continue to increase
  • US gasoline demand shows signs of recovery ...

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