Related Articles
Forward article link
Share PDF with colleagues

Market watch: June

Production outages, Opec's meeting, and perhaps a new era of US gas exports

PRODUCTION outages have mounted and as sentiment in the market begins to turn, investors will be focused on further supply-side disruptions in the coming month. Geopolitics and disasters have already cut about 0.6m barrels a day from April’s supply. Across Opec, 2.2m b/d is now offline – most of this (like Libyan oil) has been missing for months, and is therefore priced in. But Nigeria’s production losses have almost doubled in recent weeks, to 0.65m b/d. It’s an unexpected source of a market tightening that seems to be accelerating. Opec’s meeting in Vienna will trouble the market less. The group is not expected to agree on any output measures, even though its output soared to a seven-yea

Also in this section
Opec and IEA diverge on world’s capacity cushion
13 July 2018
As trade tensions and disruptions ripple through the market, Opec and the IEA disagree on the risks to supply
Oil markets on the rise
10 July 2018
The oil-price recovery has helped to improve the outlook for oil and gas capital markets
Strategy v market dynamics
6 July 2018
Members must consider a host of complex issues as they wrestle with the problem of managing oil supply