Gulf Intelligence Podcasts PODCAST: Daily Energy Markets - June 11th
Jun 11, 2025
Neil Atkinson, former Head of Oil Markets Division at the International Energy Agency, and Nadia Martin Wiggen, Director at Svelland Capital, dive into the shifting dynamics of oil markets. They explore how July's OPEC+ production increases and U.S.-China trade relations will influence prices. Could a trade agreement spark Brent crude to hit $70 a barrel? The pair also discuss challenges with OPEC's production quotas and reflect on the complexities of global trade amidst fluctuating demand and production levels.
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US-China Trade Talks Impact
- The US-China trade talks are crucial for oil markets, as any deal could boost Brent crude prices towards $70 a barrel.
- Improved trade relations would underpin global economic growth and oil demand recovery this year.
Oil Supply and Demand Dynamics
- OPEC+ is raising production while US and non-OPEC output also increase, potentially flooding the market.
- Demand growth remains strong but may not suffice to absorb the new supply, limiting bullish momentum on oil prices.
Oil Market Range Bound
- The market remains range bound around $65 to $67 for Brent crude as traders await clearer details on US-China trade progress.
- Strong refinery margins and tight supplies support prices despite low global economic growth forecasts.