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Oil Market Briefing 17th November 2023

Our free weekly round-up of the latest news in the oil market is below, available to download in PDF format.

  • Brent below $80/bbl amid diminished risk premium from Israel-Hamas conflict

  • US crude inventory up 18 million barrels in 3 weeks, but still remain below 5-year averages

  • China’s economic concerns impact prices despite US two weekly product draws

  • IEA revised up global oil demand to grow 2.4 mb/d with China increasing 1.8 mb/d in 2023,

  • CPI for the US, Eurozone and UK continue to fall reducing the likelihood of further rate hikes

  • UK-US partnership: fast-tracking fusion energy to achieve a commercial fusion reactor by 2040

  • Israel DW remains attractive despite the conflict

  • Fresh DW awards and production in Guyana

  • West Africa heats up with record rig dayrates since 2014

  • Offshore drilling activity elsewhere is thriving with rising fixture rates

by Fay Chen // 17 November, 2023

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