VIDEO: Crude markets to remain tight over the summer

Ajay Parmar

05-Jul-2022

LONDON (ICIS)–Senior analyst Ajay Parmar highlights how strong refinery margins and lack of OPEC+ supply capacity will support the oil market over the summer

  • Record refined product prices will support oil demand in the near term
  • Rising interest and persistently high inflation will soften oil demand growth from Q4 onwards
  • Most OPEC+ producers are at or near maximum capacity, leaving few options for supply increases in the coming months

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