OMS-1 Oil Market Snapshot – May 2020 Brent Holds Around $35/bbl As US Inventories Peak Amidst Talk Of Extended Cuts

  • Brent has risen to c. $35/bbl in May as demand lifts from its lows, US inventories ease and OPEC+ cuts start to take effect, though the benchmark was a little ...

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OMS-1 Oil Market Snapshot – April 2020 Demand Leads Supply, With OPEC+ Deal Fragile and Inadequate

  • Brent has fallen to $22/bbl despite a fresh agreement on April 13th to curtail global production by 9.7 million b/d, while May WTI closed at -$37/bbl, negative...

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OMS-1 Oil Market Snapshot – March 2020 Brent Routed After OPEC's Last Waltz with Russia in Vienna, Pandemic

  • Brent has been routed to $26/bbl, as the world implements measures to tackle the COVID-19 pandemic and the OPEC+ agreement collapses
  • We now see Bren...

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OMS-1 Oil Market Snapshot – February 2020 COVID-19 Rattles Markets, As Russia and Saudi Are Split on OPEC+ Response

  • Brent has collapsed to $50/bbl on 28th February, after a brief bounce at $55/bbl, as fears of weaker demand grip global markets due to the coronavirus outbreak...

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OMS-1 Oil Market Snapshot – January 2020 Coronavirus Outbreak Spooks Traders Over Demand Concerns

  • After a spike to c. $70/bbl in the wake of the assassination of Iranian General Qassim Soleimani, Brent has collapsed to $60.15/bbl on expectations of weaker d...

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Oil Cover Oil Market Snapshot – December 2019

• Brent has held firm in December, trading at $66.38 on 17th December, as the OPEC+ group reached a new deal and the US-China trade war looked to be nearing a ceasefire...

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OMS-1 Oil Market Snapshot – November 2019 No New Targets As Saudi Arabia Attempts To Enforce Compliance

Brent recovered slightly in November, trading at $63.87 on 28th November, against October’s average of $59.71/bbl. Less headwind from recent macro-economic data, combi...

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OMS-1 Oil Market Snapshot – October 2019 Saudi Arabia's Quick Recovery Keeps Brent Flat

Brent has fallen back to August levels in October, trading between $58/bbl and $62/bbl. After Saudi Arabia achieved a swifter return to production than many expected, co...

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OMS-1 Oil Market Snapshot – September 2019 Saudi Arabia Puts On a Brave Face After Missile Attacks

The attacks on Saudi installations at Khurais and Abqaiq appear to have had a limited effect on Brent, which is at c. $62/bbl, down from the initial 20% spike to $70/bbl ...

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OMS-1 Oil Market Snapshot – July 2019 Hormuz Tensions Support, Economy Caps Brent in July

Brent was range-bound between $62/bbl and $68/bbl in July. Tensions in the Strait of Hormuz have kept a floor under prices, while concerns over global growth have provide...

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