| 来源类型 | Presentations |
| 规范类型 | 其他 |
| An Overview of the Crude Oil Market in 2019 | |
| Bassam Fattouh; Andreas Economou | |
| 发表日期 | 2019-04-02 |
| 出版年 | 2019 |
| 页码 | 1 |
| 语种 | 英语 |
| 概述 | In the second half of 2018, the oil market exhibited high volatility not only in terms of price levels but also time spreads and quality spreads. After reaching highs of $81/b and $71/b in October, monthly Brent and WTI prices ended the year in December at $57/b and $49/b respectively. At the same time, time […] |
| 摘要 | In the second half of 2018, the oil market exhibited high volatility not only in terms of price levels but also time spreads and quality spreads. After reaching highs of $81/b and $71/b in October, monthly Brent and WTI prices ended the year in December at $57/b and $49/b respectively. At the same time, time spreads switched from backwardation to contango, as inventories rose above their 5-year average and the prospects for global demand worsened amid supplies increasing. The spreads between light sweet-medium sour crude also exhibited wide volatility, with the Brent-Dubai and WTI-Dubai spreads collapsing signalling a shortage of heavier sour crude globally. Brent and WTI prices have gained significantly since December 2018, ending-March 2019 near $67/b and $60/b respectively (about $10/b higher), and time spreads are once again in backwardation. That said, while the Brent price in the front of the curve has increased sharply since the last quarter, the back end of the forward curve remains relatively sticky at around $60/b, suggestive of the fact that the dominant narrative remains relatively bearish. This presentation provides an overview of the oil market and price dynamics in early 2019, discussing the key challenges in the year ahead and examining possible outcomes. Executive Summary |
| 主题 | Oil ; Oil & Middle East Programme |
| 关键词 | Brent Geopolitics IMO2020 Iran oil price path OPEC Price Differentials Saudi Arabia Venezuela WTI |
| URL | https://www.oxfordenergy.org/publications/overview-crude-oil-market-2019/ |
| 来源智库 | Oxford Institute for Energy Studies (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/312634 |
| 推荐引用方式 GB/T 7714 | Bassam Fattouh,Andreas Economou. An Overview of the Crude Oil Market in 2019. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| An-overview-of-the-c（10782KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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