14 May 2025: 16:30 BST
It’s a tentative start by OPEC, like a runner starting off gently to avoid pulling a hamstring. The secondary sources claimed OPEC+ production of 40.9 mil b/d, coming to a cutback of 106 kb/d – compliance is back in fashion! Naturally, they’re also toeing a bullish line when it comes to demand growth, expecting 1.3 mil b/d oil demand growth in 2025 to be followed up with another 1.3 mil b/d of growth in 2026. There’s a term for this…fakery! Most figures, we are told directly by numerous sources, are managed by some of the OPEC members. So you can’t believe those figures. Just see the numbers as the wishful bullish OPEC narrative and that’s it!
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
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