Markets

Concerns about stubborn inflation and high interest rates in the US held the attention of traders throughout most of the period.

Macquarie and JP Morgan have offered insights into the upcoming OPEC+ meeting on June 1.

Colombia aims to increase its oil production to 1 MM b/d by revitalizing underutilized exploration blocks, according to Energy Minister Andrés Camacho.

n a notable admission, Russia has disclosed that it exceeded its OPEC+ production quota in Apr. due to

Nigeria's Dangote refinery is making strategic moves to secure a consistent crude oil supply and expand its exports of low-sulfur straight-run fuel oil (LSSR) to Europe.

Expectations of improving demand as well as the potential for localized supply disruptions pushed prices higher.

Refining margins in Asia have plummeted to their lowest in seven months, prompting a shift away from expensive Middle Eastern crude towards cheaper alternatives from the Americas.

OPEC Optimism vs. IEA Concerns: Diverging Oil Demand and Supply Forecasts for 2024.

Recent analyses by Macquarie and Standard Chartered Bank highlight cautious outlooks for the oil market amidst geopolitical tensions and economic factors.

Recent developments within OPEC+ underscore ongoing tensions over member countries' oil production quotas, echoing past controversies that nearly fractured the alliance.