TOCOM Energy

The Oil Market Outlook for 2024

Energy Aspects

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November 21, 2023 6 min read
The Oil Market Outlook for 2024

JPX is excited to deepen a business collaboration with Energy Aspects, a leading global energy research firm. Watch our first collaboration video presented by Christopher Haines, Global Head of Crude at Energy Aspects, sharing insights on the Oil Market Outlook for 2024.

The key messages at his presentation are:
✓We will enter 2024 with tight stock levels – could lead to a lot of volatility in crude.
✓Demand will be weaker y/y, OECD likely to struggle led as credit conditions tighten
✓New supply growth will be from the Atlantic basin – mostly light sweet crude, not the heavy grades needed for most new refineries
✓OPEC+ barrels will be needed, so OPEC policy will be critical.

Christopher Haines, Global Head of Crude
Christopher Haines is a seasoned lead crude analyst at Energy Aspects, renowned for his expertise in delivering top-tier research and analysis on crude oil markets. With a 12-year background in market fundamentals and pricing, he specializes in assessing regional and global balances and establishing links between fundamental factors and benchmark pricing. Christopher has collaborated with numerous industry giants and is highly sought after for presenting his invaluable insights to key players in the oil market. As a respected figure in the global oil media, he regularly contributes to industry discourse and remains at the forefront of market trends.