Last week, BTU Analytics’ Energy Market Insights touched on how the various outlooks for global liquids demand have vastly different implications for the recovery of the oil industry. While getting a complete picture on how oil demand recovers will take time, global supply is also in flux and will significantly impact any recovery in crude supply. Recently, conversations amongst Saudi Arabia and Russia to potentially extend the deepest cuts agreed upon in the April production deal for up to two more months, combined with reports of a lack of curtailment compliance in Iraq and Nigeria, has shed light on the uncertainty of global liquids supply going forward. This commentary will compare various scenarios on the path of OPEC+ production and how that could impact the path to recovery.
https://btuanalytics.com/crude-oil-pricing/roll-call-global-liquids-supply-outlook/
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