Oil news and market movers: sanctions ahead
- Recent data shows that Iran is exporting the highest amount of Oil in more than six years, the Financial Times reports.
- China is set to have a surplus of Oil production, expanding to 82m tons by 2030, according to Li Ran, a researcher at CNPC’s Economics & Technology Research Institute. This surplus would make up for any shortfall in the markets from OPEC and other suppliers.
- Leading Goldman Sachs Analyst Daan Struyven sees $90 as a ceiling for Brent Crude.
- The recent Crude Oil Inventories report from the US Energy Information Administration (EIA) showed that the Gulf Coast stockpiles are at their highest level in a year. Us Inventories grew by 2.74 million barrels, the highest since June 2023.
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