IMO 2020

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IMO 2020 provides projected changes in product prices, gives insight into what refiners can do to change their configuration, and discusses the available shipper options.

Market Prices Remain Best Arbiter of Oil Production Levels

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While the heads of the world’s largest oil producing nations were quick to claim a diplomatic victory following the latest OPEC+ output cut agreement, crude prices are telling a different story. Prompt month Brent and WTI futures contracts are now trading nearly 20% lower from their early April highs, both returning to a super contango forward curve price structure following the conclusion of the OPEC+ meeting.