Oil markets are quiet after the inventory stats last week, it will be interesting to see how they settle down this week particularly in gasoline. As we enter June and the Northern hemisphere summer is not far away it is worth thinking about what factors may influence the oil price in the next few months, say analytics. “As you will know over recent years I have highlighted the fact that since the Arab spring Saudi Arabia has used much more oil for domestic consumption during these months and until it manages to bring on more gas for power generation its and by association OPEC’s exports fall. After that you can add anything you like to the equation but sometimes a heatwave in Japan will increase demand, sometimes it will be the hurricane season, occasionally North Sea maintenance overruns and this year it might be the Iran talks slowing down. Anyway, a few thoughts I might dwell on in coming weeks and I will of course pick up on the factors that might have a downward impact on prices."