The outlook for the global crude markets remains contested
OPEC+ must wait on contested demand outlook
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
The outlook for the global crude markets remains contested, as evidenced by the widely divergent predictions for demand growth put forward by the IEA and OPEC already this year. Much will depend on the health of the Chinese economy and wider macroeconomic factors, such as inflation, across OECD economies. By contrast, there is more consensus on the outlook for the supply side of the equation. Forecasting is further complicated by the geopolitical divisions and sanctions that have fractured the global market and threaten to spill over into wider conflict. OPEC+ will not want to release the genie from the bottle for fear of not being able to put it back, but the ongoing voluntary cuts are cert
Also in this section
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
9 March 2026
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
