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Synopsis

The first half is breakdown of the UAE's exit from OPEC - what it means for production targets, quota dynamics, and longer-term market structure. The second half covers a cross-commodity review: what trade flow data is signalling across oil, tankers, gas and LNG right now.

What you'll learn

UAE exits OPEC: ramifications in full

  • What the exit means for UAE production targets and output strategy
  • How quota dynamics shift for remaining OPEC+ members
  • Longer-term implications for OPEC cohesion and market structure

What's moving markets this week

  • Oil and gas: the week's standout moves and what's driving them
  • Over 40 loaded fertiliser vessels still bottled up in the Gulf
  • Dry cargoes diverting to Chabahar as an alternative to Iran's Gulf ports
  • Fresh trade flow signals across LNG and tankers
  • Themes and signals shaping the week ahead

Meet the speakers

Matt Stanley
Head of Market Engagement

With over 25 years of trading and broking experience in the energy market, joined Kpler in 2022 as Head of Market Engagement for Europe, Middle East, Africa and Asia. Works closely with clients providing advice and support across the energy sector, leveraging data and analytical tools to offer expert counsel on market trends and opportunities. Was instrumental in supporting the launch of the AG fuel oil derivative contract in 2016 and continues to advise traders, exchanges, and PRAs. Career includes positions as trader for Trafigura, director at Nigerian energy company Oando, and director at brokerage house Starfuels. Regularly appears as energy commentator for newspapers, radio, television and newswires, and sits on various industry panels.

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Naveen Das
Senior Crude Oil Analyst

Naveen joined Kpler Insight as Senior Analyst in April 2025 with over 10 years of cross-commodity experience in analysis and trading. He started his career as desk analyst at INEOS covering light ends, before moving to Argus Media on solid fuels to help build their data offering on coal and petroleum coke. More recently, he worked on the paper and West Africa desks at Chevron before joining DV Energy as lead analyst and trader, where he built the fundamental analysis platform and traded financial derivatives. Naveen is based in London and holds an MEng in Chemical Engineering from the University of Cambridge and an MSc in Management from Imperial College London.

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Laura Page
Insight manager - LNG & Natural Gas

Laura joined Kpler in July 2021 and is leading the build-out of the natural gas and LNG Insight service, which has comprehensive coverage of LNG, European and US natural gas market fundamentals, as well as JKM, TTF and Henry Hub price forecasts. She has been analysing commodity markets for over 12 years, covering a broad range of markets including metals, fertilisers, European power and LNG. Laura has been focusing on LNG markets since 2015, working at Argus Media as Deputy Editor of the LNG Daily report and at Refinitiv (now LSEG) as Lead LNG analyst. Laura is based in London and holds a BA and MSc in Economics from the University of Exeter.

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Ishan Bhanu
Lead Agricultural Commodities Analyst

Ishan joined Kpler’s dry bulk and Insights teams in October 2023. Based in Dubai, he has over 12 years of experience with global grains markets research and trading. Ishan is building an understanding of agricultural markets and trade within Kpler, to add to and support its dry bulk data offering. He is also building analytical tools and balance sheets for major ags like wheat, corn, soybeans and barley, with focus on developing all the support required for trade decision-making by Kpler clients. Ishan has worked as Head of Research at Invivo and as Associate Trader at Olam International. He founded Integrated Research Dubai and was a consultant for major trading houses across the globe, before joining Kpler.

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Amena Bakr
Head of Middle East & OPEC+ Research

Amena Bakr is the Head of Middle East Energy & OPEC-plus research at Kpler, based in Dubai. She leads oil market analysis, OPEC policy research, and risk assessments in the Middle East. Previously, she was a senior research analyst at Energy Intelligence Group and served as Chief OPEC Correspondent and Dubai Deputy Bureau Chief for eight years, earning multiple journalism awards, including the 2023 OPEC award for best journalist. She also worked as an Energy Correspondent for Reuters in Dubai, Doha, and Riyadh, covering energy and political risk. Amena holds a BA in Business Administration from the Arab Academy for Science, Technology & Maritime Transport in Egypt, with a major in management information systems.

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Panagiotis Krontiras
Tanker Freight Analyst

Tanker Freight Analyst

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Andon Pavlov
Director of Oil and Tanker Research

Prior to Kpler's acquisition, Andon had spent five years at JBC Energy, leading the downstream research team. For the past three years, he has spearheaded in-depth analyses on refinery margin estimates, operational supply and demand modelling, and forecasting, along with comprehensive cross-barrel analyses. Working alongside his team of seasoned professionals at Kpler, recently, Andon expanded his leadership to oversee liquids and freight research at Kpler. He is based in Vienna, Austria.

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