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Commodity Context
Global Oil Data Deck (November 2024)
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Global Oil Data Deck (November 2024)

Sizable temporary output losses and stabilizing Chinese demand in September prompted the largest monthly oil supply deficit so far this year alongside large confirming stock draws.

Rory Johnston's avatar
Rory Johnston
Nov 21, 2024
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Global Oil Data Deck (November 2024)
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This 64-page November 2024 edition of my monthly data-dense and visualization-heavy Global Oil Data Deck series (attached PDF below) is exclusive to paid Commodity Context subscribers.

Become a paid subscriber today to view the full Global Oil Data Deck report and join me in my hunt for ever-deeper oil & gas market context.

If you’re already subscribed and/or like the free summary bullets, hitting the LIKE button is one of the best ways to support my research.


Overview

  • Global liquids balances tightened in September to the largest supply deficit so far in 2024 alongside big confirming stock draws, thanks to stabilizing Chinese demand coupled with large temporary disruptions including the short-lived Libyan export blockade and especially heavy maintenance.

  • Crude prices have chopped steadily lower over the past month through November, caught between persistent waves of Chinese economic concern, on-again-off-again security flare-ups in the Middle East, and now handicapping the likely impact of US energy policy in Trump’s second term.

[Full PDF Deck and Country-Level Analysis Below Paywall]

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