Close Menu
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

U.S. power utilities seek price hikes on AI demand – Oil & Gas 360

July 10, 2025

Elon Musk’s Grok 4 Predicts Dodgers to Win World Series

July 10, 2025

Mach enters Permian, San Juan basins with $1.3 billion in acquisitions

July 10, 2025
Facebook X (Twitter) Instagram Threads
Oil Market Cap – Global Oil & Energy News, Data & Analysis
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment
Oil Market Cap – Global Oil & Energy News, Data & Analysis
Home » Standard Chartered Dismisses ‘Phantom Barrel’ Theory, Sees No Hidden Surplus
OPEC Announcements

Standard Chartered Dismisses ‘Phantom Barrel’ Theory, Sees No Hidden Surplus

omc_adminBy omc_adminJuly 9, 2025No Comments2 Mins Read
Share
Facebook Twitter Pinterest Threads Bluesky Copy Link


Standard Chartered has shot down a rising Wall Street narrative that global oil markets are sitting on a hidden cushion of non-OECD crude, so-called phantom barrels. In its latest Commodity Roadmap released this week, the bank states there is “nothing in trade flows, time structure, or data flow” to support claims of invisible inventory builds, particularly in China or South Africa.

The rejection puts StanChart at odds with macro-driven oil bears who argue that low OECD stockpiles are masking oversupply elsewhere. Instead, the bank’s view is that the market is near balance and the data simply doesn’t back the surplus story.

This stance comes as OPEC+ prepares to roll back the remainder of its November 2023 voluntary cuts. After approving a 548,000 bpd increase for August, the group is widely expected to approve a final 584,000 bpd hike at its 3 August meeting. That would fully unwind the second tier of coordinated supply reductions.

“The November 2023 tier would be rolled back completely by another 584kb/d increase in targets at the next meeting (3 August), and we expect ministers to take that decision. Reversing the November 2023 voluntary cuts completely brings the first tier (agreed in April 2023) into focus. This tier totals about 1.65 million barrels per day (mb/d), although with output constraints starting to affect some countries, we would not expect output to increase by more than 0.8mb/d if the April 2023 tier were also to be rolled back,” StanChart notes.

StanChart sees the physical market tightening, not weakening. It forecasts a modest global draw of 0.1 million bpd in Q4 2025 and notes that non-OPEC+ supply growth continues to underperform expectations.

Meanwhile, U.S. oil activity is slipping. The Baker Hughes rig count dropped for the tenth straight week, hitting a 45-month low of 425. Midland Basin rigs alone fell by six last week, hitting a four-year trough.

While some traders fear the OPEC+ increases hint at a return to market-share competition, Standard Chartered disagrees. “We see no signs,” the report states. “Assuming the rest of the November 2023 tier is rolled back in the next OPEC+ eight meeting, we forecast a near balanced global market in Q4-2025 with a small 0.1mb/d draw. We forecast strong demand will absorb the extra OPEC+ barrels and that non-OPEC+ supply increases will continue to disappoint relative to consensus.”

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Source link

Share. Facebook Twitter Pinterest Bluesky Threads Tumblr Telegram Email
omc_admin
  • Website

Related Posts

Trump Tariff Comments Trigger Oil Price Decline

July 10, 2025

IEA Head: The World Must Prepare to Address Energy Security Threats

July 10, 2025

Equinor Makes Gas Discovery Near Huge Arctic Oilfield

July 10, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

LPG sales grow 5.1% in FY25, 43.6 lakh new customers enrolled, ET EnergyWorld

May 16, 20255 Views

South Sudan on edge as Sudan’s war threatens vital oil industry | Sudan war News

May 21, 20253 Views

Trump’s 100 days, AI bubble, volatility: Market Takeaways

December 16, 20072 Views
Don't Miss

Mach enters Permian, San Juan basins with $1.3 billion in acquisitions

By omc_adminJuly 10, 2025

Mach Natural Resources today announced its expansion into the Permian and San Juan basins with…

Ørsted Raises $2.75B for Taiwan’s Greater Changhua 2 Offshore Wind Project

July 10, 2025

EU Parliament Rejects Deforestation Country Risk List, Escalating Pressure on EUDR Rollout

July 10, 2025

Masdar, Iberdrola Finalize $5.6B UK Offshore Wind Deal

July 10, 2025
Top Trending

Iberdrola, Masdar to Co-Invest Over $6 Billion in UK Offshore Wind Project

By omc_adminJuly 10, 2025

ISS STOXX Launches New Climate Data Solution for Sovereign Portfolios

By omc_adminJuly 10, 2025

Guest Post – Inside Our Fundraise: Lessons from a Climate VC

By omc_adminJuly 10, 2025
Most Popular

The 5 Best Soundbars of 2025

May 6, 20251 Views

Energy Department Lifts Regulations on Miscellaneous Gas Products

May 2, 20251 Views

Elon Musk’s Grok 4 Predicts Dodgers to Win World Series

July 10, 20250 Views
Our Picks

EnergyX Expands Acreage in Smackover Lithium Region

July 10, 2025

Chevron Shifts from Local to Centralized Hubs to Cut Costs

July 10, 2025

Trafigura’s Greenergy Plans to Close UK Biodiesel Plant

July 10, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 oilmarketcap. Designed by oilmarketcap.

Type above and press Enter to search. Press Esc to cancel.