James McCullagh

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James is an Oil Products Analyst, with a particular focus on the EMEA region. He has deep knowledge of the African downstream, having spent seven years with CITAC Africa in London. James is a chartered accountant and fluent French speaker. He is a graduate of the University of Warwick. Prior to joining Energy Aspects, he worked as Financial Planning and Control Manager at a gas distribution company. 

Recent publications

  • | Still kicking

    The strength in fuel oil has gone on for so long that it risks breeding complacency. Strong cracks have raised expectations that supplies will rise and snuff out the rally. We do think supplies will rise, and there are signs that some of the demand story’s most bullish elements are fading, but the m..

    6 days ago - Read more

  • | Tanks and tides

    Indian ULSD buying may have ebbed, but the effects of the country’s unexpected buying spree on diesel markets will reverberate for a few more months. Indian buyers have stepped back from the market, but for the Atlantic basin, the damage has been done. East of Suez refiners typically supply at least..

    1 week ago - Read more

  • | Up with Jones

    Gasoline markets are looking more balanced as we move through the peak period for demand in the Atlantic basin. Despite US refineries processing record volumes of crude oil, refinery problems in Latin America have ensured that US Gulf Coast refiners have had an outlet for a lot of their production a..

    2 weeks ago - Read more

  • | Middle East & Africa Quarterly

    Our Middle East & Africa Quarterly provides a comprehensive analysis of the region, examining key topics in depth and providing a detailed guide to regional supply, demand, trade flows and downstream capacity across the Middle East & Africa. Each quarter, focus pieces delve into key issues that will..

    4 weeks ago - Read more

  • | The black sheep

    Asian fuel oil cracks and timespreads have performed strongly since late May despite bunker fuel demand moderating. Hot weather has come early, boosting consumption even as stalwarts such as Japan and South Korea have begun to reduce their use of the product. We see the softness in bunker demand as ..

    1 month ago - Read more