The energy map in 2026: OPEC+ and the Custodial crude paradoxOil markets are no longer defined by simple shifts in supply and demand. The result is an oil market suspended between engineered stability and sudden volatility. A new element has emerged in this power play: Custodial crude. The role of custodial crude in the uncertainty equationCustodial crude refers to physical oil and refined products held in third-party inventories where ownership or transfer rights are subject to friction. Inventory management is crucial for cost stability; while custodial crude provides a physical buffer, the efficiency of holding it is instrumental in the "theory of storage" that underpins futures markets.

Source: Bangkok Post March 27, 2026 17:58 UTC