Oil Analyst Sen Sees Demand Perception as Main Driver of Prices

The video discusses the complexities of the oil market, focusing on backwardation, global inventories, and the impact of the US-China trade war. It highlights the tight physical market despite high inventories, mainly due to refinery maintenance and new storage facilities in China. The discussion also covers the effects of destocking and the importance of monitoring OPEC loadings and petrochemical margins as key market indicators.

What factors are contributing to the perception of weak demand in the oil market?

How do global inventories compare to previous years, and what implications does this have for supply and demand?

What role does refinery maintenance play in the current oil market situation?

What concerns are raised regarding the impact of the US-China trade war on oil demand?

What key data points should be monitored in the coming weeks to understand the oil market better?