There's more than one oil price around the world and as the following comprehensive (but brief) overview from Morgan Stanley's Global Energy Teach In shows, crude oil pricing across the world is dynamic and multi-factorial - from fundamental factors (such as simple supply and demand and seasonality) to macro factors (such as USD strength, macro sentiment, and "burden") and risk premia (e.g. geopolitics), the following provides everything you wanted to know about global crude oil fundamentals, but were afraid to ask...
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Source: Morgan Stanley