17 February 2025: 16:30 GMT
The Riyadh meeting represents the three biggest oil producers in the world: US, Saudi Arabia and Russia, with an output of over 31 mil b/d! Around one third of total global oil production. Lavrov, Rubio and MBS are the big wigs drawing out new lines on the map and energy must be at the centre of this new world order. Zelenskyy is also apparently going to visit Saudi Arabia this week – we wonder whether the others will stick around to wait for him or if he’ll be Mr Lonely. He’s busy as he needs a new home. He is also going to visit Turkey tomorrow, according to Erdoğan’s office. Maybe the Turkey Riviera beckons him.
In ‘The Officials’, Onyx Capital Advisory publishes outright values, spreads, cracks and boxes for the main energy commodities traded in the marketplace. The published values are determined independently and on a fair market basis by our team of dedicated professionals.
We invite you to read our reports, which will initially be published twice a day, reflecting closing values at 16:30 Singapore time (SGT) and at 16:30 London time (GMT/BST).
For any comments, please reach out to us through the emails provided in the signed documents.