Crude output is on the rise as Opec+ rapidly unwinds the 2.2mn b/d of output cuts that have been in place for many months, weighing on oil prices. Sour crude grades are set to arrive back on European shores during a period when the region is already awash with supply of light sweets.
What is driving this important shift, and how will Europe’s ageing refining industry cope with the change?
Lina is Senior Reporter for crude oil. She has been covering the North Sea crude market for the past three years. Her focus in the last year has been the transformation of the North Sea Dated benchmark after inclusion of US WTI as the sixth benchmark grade, as well as the adjustments of crude slate in northwest Europe post Russian invasion of Ukraine. Lina holds a joint MA degree in Financial Journalism from City, University of London and Aarhus University in Denmark.
Benedict is the Editor of the Argus European Products Report. Before holding this role, he was responsible for assessing Argus’ European diesel and gasoil prices from 2019 to 2023, during the Covid-19 pandemic and the Russian invasion of Ukraine. He has also led Argus data and news coverage on the European refining industry throughout that time. Benedict holds an MA degree in Financial Journalism from City, University of London and a BA in Philosophy, Politics and Economics from Oxford.
Kuganiga is the Deputy Editor of the Argus Crude Report, overseeing our coverage on the Mediterranean, Caspian and Russian markets. She joined Argus in 2021, prior to which she was covering fertiliser markets. Kuganiga holds a BA in Philosophy from University College London.
Elliot is the Editorial Manager for Oil at Argus Media, overseeing the teams responsible for publishing Argus’ refined products, crude, LPG and speciality product assessments. Elliot has covered markets ranging gasoline, diesel, North Sea and West African crudes, and biofuels during his more than eleven years at Argus. He graduated from the University of Bristol with a Master’s degree in chemistry. Prior to joining Argus, Elliot worked for pulp and paper consultancy Hawkins Wright.
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