20 May 2025: 16:30 BST
There’s trouble in paradise! OPEC’s Secretary General went for the jugular of the IEA, writing a rebuke to what he sees as the Agency’s repeated under-counting of ‘missing barrels’. He’s especially unhappy with the “narrative that the IEA itself has propagated” that new investments in oil supply are not necessary, which jeopardises energy security. The big wigs are pulling their hair out and nitpicking about missing barrels but really they’re both missing the point: nobody knows! Both have their flaws, as it’s the IEA’s foolhardy and premature abandonment of hydrocarbons as a key energy investment versus OPEC’s inability to keep a handle on its members’ output… Physicians, heal thyselves… still! Yet again, Kazakhstan’s production is reportedly on the rise.
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.
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