OilChem successfully held an oil market seminar – Oil Matters - in Singapore on September 4, together with Kpler, General Index and CurveSeries to discuss the market outlook. Presenting at the meeting were senior executives from the organizers who shared their insights over the oil market prospect.
Viktor Katona, lead crude analyst of Kpler, suggested that global crude oil supply growth is expected to slow down over the next few years with US shale hitting peak. Nevertheless, Atlantic offshore crude production is potentially the next significant new source.
In addition, while Saudi Arabia's 1 million barrels/day (mnb/d) voluntary cut added additional pressure to already limited supply, Middle East countries focused on refinery buildout to improve their crude system.
Neil Bradford, CEO of General Index, shared his views on the transformation of oil pricing per shift in global flows observed over the past decade. That is, the pricing methods shall be comparable to the buying conventions in different regions. When the global flows of crude oil changed, the pricing shall transform accordingly, including the benchmark dynamics.
Liao Na, VP of Mysteel OilChem, provided her China's oil market prospect in 2023 and beyond. It is forecast that China's gasoline, diesel, and jet demand will jump 10.5%, 3.5%, and 67.4% year on year respectively in 2023, before slowing down in 2024.
Glenn Huniche, partner of CurveSeries, introduced the company's unique platform for easy treatment of data, which allow the users to create relevant charts and dashboards.
To gain access to detailed seminar presentations, please contact us at support@oilchem.net.
Written by Aggie Hu, huchenying@mysteel.com
Edited by Navy Liu, liuchuanjun@mysteel.com