Emma Mazhari, CEO of oil trading at Maersk, expressed significant concerns about the global oil market's future trajectory at the Asia Pacific Petroleum Conference (APPEC) in Singapore on September 9, 2025. She indicated a substantial risk of declining oil prices, attributing this outlook to a combination of modest demand growth and increased production from OPEC+.
OPEC+ has announced plans to increase its oil production by 137,000 barrels per day starting in October 2025. This move is part of a strategy to reverse previous production cuts and regain market share. This increase comes at a time when the International Energy Agency (IEA) has revised global oil demand growth projections downwards, estimating a rise of approximately 700,000 barrels per day for 2025. The U.S. Energy Information Administration (EIA) further forecasts a significant build-up in global oil inventories through 2026, potentially reaching 2.3 million barrels per day in the first quarter of 2026. Historically, periods of inventory builds exceeding one million barrels per day have correlated with substantial price declines, with the EIA noting potential drops of 25%–50%.
Mazhari also provided insights into the maritime industry's evolving fuel landscape, projecting a considerable increase in the availability of low-carbon bunker fuel options after 2030. This shift reflects a broader transition within the energy sector, driven by environmental regulations and increasing demand for sustainable solutions in shipping and other energy-intensive industries. Maersk is actively investing in green bunker fuel infrastructure in Southeast Asia, demonstrating the industry's commitment to this transition.
The discussions at APPEC 2025 highlighted the intricate relationship between supply, demand, and geopolitical factors influencing the global oil market. As OPEC+ manages its production strategy and the industry adapts to more sustainable fuel alternatives, the perspectives shared by leaders like Emma Mazhari offer a crucial understanding of the dynamic energy sector.