Gulf Intelligence Podcasts PODCAST: Daily Energy Markets - June 4th
Jun 4, 2025
Ali Al Riyami, a former director at Oman’s Ministry of Energy, shares insights on OPEC+ strategies amidst fluctuating oil prices. Leslie Palti-Guzman, founder of Energy Vista, discusses the geopolitical implications of the Ukraine conflict on Europe's LNG strategy and dependency on Russian gas. Meanwhile, Ehsan Ulhaq provides a detailed look at oil market fundamentals, emphasizing the need for OPEC to reevaluate production quotas in light of actual outputs. Together, they unpack the intricate ties between geopolitics and global energy markets.
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OPEC+ Supply and Price Rally
- The recent oil price rally surprised many despite OPEC+ accelerating supply increases.
- The market price already factored in these volumes; geopolitical risks also play a major role in price movements.
Geopolitics Drive Energy Markets
- Geopolitics increasingly drive energy markets beyond commercial supply-demand factors.
- Rerouting trade flows and chokepoint risks elevate costs and market volatility, especially in LNG shipping.
Refinery Margins Signal Demand Strength
- Strong refinery margins indicate robust underlying demand despite price falls.
- High temperatures and summer travel boost oil demand, supporting prices around $65 a barrel.