In this podcast, Bassam Fattouh discusses with Paul Horsnell the latest developments in oil market and the outlook for the rest of this year and 2026. The podcast addresses some key questions shaping the oil market including:

• ⁠ ⁠What have been the impacts of the latest decisions by the eight OPEC+ countries on market dynamics, including perceptions of spare capacity?
• ⁠ ⁠What are the main reasons behind China's crude stocking, and what implications does it have for the global oil market?
• ⁠ ⁠What role does the geopolitical risk premium play in oil markets?
• ⁠ ⁠What does the shape of the forward curve reveal about oil market expectations?
• ⁠ ⁠Why is positioning by managed money in Brent and WTI different?
• ⁠ ⁠Why does the Brent price continue to be supported despite very bearish expectations?
• ⁠ ⁠What is the oil market outlook for Q4 2025 and 2026, and could there be a shift in the "oil glut" narrative? What factors could drive such a change?