5 November 2025: 08:30 GMT
As crude structures weaken almost universally, the market feels as many of the big wigs are busy at ADIPEC. Even so, Brent recovered somewhat from its drop to $64 and seems to be happy in its post-sanctions range. In the meantime, the ADIPEC chatter is united in consensus. Hopefully it’s not just an echo chamber. It’s all about rebutting the ‘peak demand’ and ‘sub-100 mil b/d’ stories coming from the illustrious forecasting agencies, with the pack led by the IEA.
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