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Market Focus: Risks remain high - a midyear look at the global oil market
In this Market Focus episode of the Oil & Gas Journal ReEnterprised podcast, Conglin Xu, Managing Editor, Economics, takes a midyear look at the global oil market, noting developments thus far with a look at what may lie ahead. Global crude inventory has been building steadily year-to-date. In an apparent oversupply, price action has a followed the fundamentals. Market sentiment has been shaped by three major forces: escalating macroeconomic uncertainties surrounding the US and China, OPEC+'s evolving production strategy, and political risks amid military conflicts in the Middle East. In…
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