Amrita is the co-founder, Head of Research and Chief Oil Analyst at Energy Aspects. Amrita's specialism is in energy commodities, particularly oil and oil products. She’s also a Research Associate at Oxford Institute for Energy Studies. Amrita holds an MPhil in Economics from Cambridge University, a BSc in Economics from the University of Warwick, and is pursuing a PhD at the School of Oriental and African Studies, University of London. She was formerly the chief oil analyst at Barclays Capital. She is frequently featured in leading media outlets, including the Financial Times, BBC News, Bloomberg, CNBC, Wall Street Journal, and Sky News.
Extract from crude oil:Unsurprisingly, WTI spreads have been on a wild ride. Prompt spreads have come off over $1 in the last week, as ways to resupply Cushing are becoming a bit clearer. The restart of Syncrude’s Mildred Lake upgrader 10 days earlier than initially announced will also help..
European oil demand plummeted by 0.43 mb/d y/y to 15.04 mb/d in May, led by a 0.34 mb/d y/y decline in German demand, which dragged EU-5 demand lower by 0.31 mb/d. While German demand has been weak, it is unlikely to have been as weak as the data suggest; indeed, German demand has been consistent..
Extract from production:The big news in Canada has continued to be the outage at the Syncrude Mildred Lake upgrader. The 0.35 mb/d facility experienced a power outage on 20 June from a blown transformer, strengthening the Canadian crude complex. Synthetic crude rallied by $1.70 per barrel vs WTI..