Oil Markets

China has already hinted at its first batch of oil product export quota for 2023, which has left some market watchers nervous amid the current economic headwinds at the start of this year. In this episode, we look deeper at the implications of the oil product export quota from China, how it could impact the oil product supply-demand fundamentals in Asia, and what the rest of Asia can expect. S&P G...

Natural gas supply disruptions into Europe saw both LPG and gasoil heating fuels used as substitutes in 2022 with concern over preparations for winter amid a low stocks environment. However, a mild winter thus far has kept heating fuel markets weak, limiting switching between different fuels. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights editors Aly Blakeway, Pat...

In this special episode of the Platts Oil Markets podcast, S&P Global Commodity Insights leaders Joel Hanley, Sambit Mohanty and Richard Swann round up the events of 2022. From the war in Ukraine to renewed Chinese lockdowns, the team looks at disrupted trade flows and the renewed challenges for supply and demand in a volatile world. Also check out: Platts Capitol Crude podcast

With the European Union ban on Russian seaborne crude imports and the price cap of $60 a barrel taking effect, the spotlight is now on China and India as the market tries to assess to what extent top Asian buyers can absorb the additional displaced barrels from Europe. In this podcast, Sambit Mohanty , Asia Energy Editor, discusses with Calvin Lee , Asia head of content, Alice Niu , China head of...

The development of Mexico's upstream oil sector has slowed since President Lopez Obrador was elected in 2018, as Lopez Obrador halted the upstream auctions put in place by the liberalization process that started in 2013. However, several companies were able to get their foot in the door, and as a result production from the private sector is expected to edge higher in coming years. Sheky Espejo, S&...

With longer-haul voyages and the 'dark fleet' growing, tight freight availability is pushing shipping rates to fresh highs. What does strong shipping market mean for the crude competing to replace Russian flows? S&P Global Commodity Insights reporters George Papageorgiou, Sam Angell, and George Delaney discuss with Joel Hanley the spike in rates and the effect on oil from the Mediterranean and Afr...

The tug-of-war between Asia and Europe for sourcing oil is set to intensify as the European Union's ban on Russian seaborne crude inches closer. From Middle East to Africa, suppliers are already feeling the pressure of how to split supplies between different regions. In a wide-ranging discussion with Asia Energy Editor,  Sambit Mohanty , S&P Global Commodity Insights' experts-- Andy Critchlow , He...

In this episode of the Platts Oil Markets podcast, S&P Global Commodity Insights editors Robert Perkins, Virginie Malicier and David Lewis discuss with John Morley what has already changed in the oil markets since February 24 and the expected impact of upcoming sanctions, from the ban on exports of Russian crude oil to Europe and the US for any loading after December 5, to the ban on exports of oi...

The US Gulf Coast crude market is exporting record volumes while also seeing sky-high freight rates. This dynamic has been playing out consistently for the past few months, but how are these exports continuing to move in such great volumes despite this major headwind? In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights crude and shipping experts Laura Huchzermeyer, Kri...

What role will oil play in mitigating Europe's natural gas problem this winter? With energy costs skyrocketing since the start of the Russian-Ukraine war, industries and households across the continent have been looking across the barrel for practical alternatives to natural gas. In this episode of the Platts Oil Markets Podcast, S&P Global Commodity Insights associate editors Aly Blakeway and Pat...

Oil product market sentiment in Asia has been volatile due to the larger-than-expected Q4 exports from China. The uncertainty saw the region's best-performing product crack for the year -- ULSD --  falling by a record 30% in just two trading sessions in the first half of September. As trading sentiment slowly recovers, the Asian oil market has to adjust to the expected increase in oil products fro...

The gasoline and diesel markets in Northwest Europe have tightened as France seeks alternative sources of supply due to strike at five of the country's six refineries. Though negotiations are ongoing at ExxonMobil and TotalEnergies, and strike action might stop soon, supply disruptions are expected to continue at least for a few weeks. In this bonus episode of the Platts Oil Markets Podcast, S&P G...

Though summer driving season is already in the rearview mirror, gasoline differentials in the US Midwest and West Coast apparently haven't gotten the memo. A flurry of planned and unplanned refinery outages in both regions have pressured already-tight supply dynamics as the rest of the world scrambles to secure gasoline supply. S&P Global Commodity Insights gasoline reporter Anna Trier speaks with...

S&P Global Commodity Insights senior leaders Richard Swann and Dave Ernsberger discuss with Joel Hanley the issues highlighted by Singapore's APPEC event , the first fully in-person edition of Asia's leading oil forum in two years. Topics for under discussion included energy security , OPEC+ cuts , the price cap on Russian oil , Chinese quotas, and more, showing once again how this important event...

The strength seen across European and African crude oil markets in the spring and summer has largely been eroded as focus shifts to the potential demand reduction caused by economic slowdowns. There are some potential headwinds on the horizon that could shift this more bearish picture however, with multiple supply disruptions hitting the North Sea, Mediterranean, and West Africa. In this episode o...

  The path to recovery for Asian oil demand has not been free of challenges. With a worse than expected consumption outlook in China due to pandemic-induced lockdowns, markets are looking for answers on whether gains in Asia, excluding China, will be strong enough to offset the bearish consumption outlook in the region's biggest oil consumer. In a wide-ranging discussion ahead of  APPEC 2022 , S&P...

With the energy crisis looming over Europe, many industries fear they will have to reduce production, including petrochemical crackers. These consumers of feedstocks such as naphtha and LPG are sensitive not only to high natural gas prices but also to a lower demand outlook for plastic goods amid economic downturn and inflationary pressures. In this Oil Markets episode, S&P Global Commodity Insigh...

Record-low stock levels in US diesel markets could signal problems for the highly liquid product. Dry weather has dampened crop projections, and long-term backwardation has stifled diesel storage and movement between regions in the US. Associate refined products director Matthew Kohlman and diesel pricing specialist Wendy Dulaney discuss seasonal trends in ULSD as fall approaches.

EU sanctions on Russian fuel oil have dramatically altered supply flows for high sulfur material within Europe, and while there is some trading activity still in the Mediterranean basin, most Russian fuel oil is heading to Singapore and elsewhere in the East. While weaker demand has offset a lack of supply within Europe for now, market uncertainty remains high with the question of where Europe wil...

China has been stepping up efforts to tighten supervision and standardize operations of its refining sector. It launched a series of investigations on refineries beginning April 2021. The latest round of inspections this month will focus mainly on tax issues, as small-scale private refiners often fail to fulfill their tax obligations in an attempt to stay competitive. In this podcast, S&P Global C...

Record low water levels are hindering the transportation of naphtha, LPG, gasoline blending components and diesel, amongst other commodities, along the Rhine into regions of Germany, France and Switzerland leading to critically low inland stocks and the release of strategic reserves for products already affected by the war in Ukraine and a rebound in transportation demand. In this episode of the O...

Even after US gasoline prices reached historic highs during the coronavirus pandemic, they somehow found more room to rise in 2022 after Russia invaded Ukraine . Strong demand and a lack of imports into the US Atlantic Coast resulted in unprecedented interest to ship barrels on Colonial Pipeline. The only problem? It wasn't enough. Light ends manager Andrea Salazar and US gasoline reporters Anna T...

The days of vaccine certificates and COVID-19 tests for travel are long gone for most, and yet jet fuel demand doesn't seem to have fully recovered from the pandemic. S&P Global Commodity Insights reporters Virginie Malicier and Maxim Kotenev tell Francesco Di Salvo how record-high physical premiums have led to a flurry of eastern cargoes sailing to Europe, and how short-staffed airlines and airpo...

Based on early consumption trends in Asia, market participants believe that the second half of 2022 may turn out to be one of the strongest six-month periods of oil demand growth seen over the past three years. That said, some pockets in China are still facing lockdowns due to the COVID-19 pandemic and high oil prices are threatening to pull down demand in other consuming nations. In this podcast,...

In Europe, with a hot summer ongoing and a cold winter expected, re-establishing secure sources of energy in light of Russia's war in Ukraine is a top priority. S&P Global Commodity Insights reporters Shivani Pandya and Sasha Foss speak with crude oil director Joel Hanley about plans to address the crunch in European natural gas supply, and how a return to oil-fired power generation is not as simp...