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Energy Aspects Forecasts Tighter Oil Supply Picture Through 2023

OIL

A lack of SPR releases and a return in Chinese demand of over 1mn bpd growth y-o-y will tighten up crude markets in the second half of the year according to Energy Aspects Amrita Sen.

  • She said the US led SPR release was the single biggest addition to the global market last year – something that will not be sustained in 2023.
  • 220 million barrels left government reserves into that of commercial last year.
  • The global markets have not really lost a lot of Russian barrels so far Amrita said.
  • She did however say that Energy Aspects expects Russia to now struggle to place all its oil products in particular so global supply is expected to lose barrels because of this going further into 2023.
Energy BulletsCommodities
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