It’s been quite the year for oil markets. In this special episode of the podcast, Joel Hanley, Jeff Mower, Sambit Mohanty and Richard Swann look back at 2024 and try to untangle the biggest themes, including slowing demand growth, the incoming Trump administration, and the formidable challenge for OPEC+ in its quest for market control. The panel also discusses trade flows, new crude supply, and how changes in China’s economic fortunes could have a major impact going into 2025.

Links: Shadow fleets: The covert armada defying oil sanctions