Martijn Rats

Martijn Rats is Morgan Stanley’s Global Commodities Strategist, focusing primarily on oil and natural gas markets. Martijn, a managing director, also heads the European Energy team in Equity Research and has been ranked No. 1 in the II/Extel survey from 2015-2021 and 2024-2025. In previous years, he covered the Oil Services sector and was rated No. 1 in the Extel survey in that category in 2010 and 2011. Martijn joined Morgan Stanley in 2002. Before that, he worked as a management consultant for OC&C Strategy Consultants in the Netherlands and the UK. He holds an MSc in Physics from Delft University of Technology, an MSc in Finance from London Business School, and was a visiting scholar at Stanford University's Physics Department. Martijn is also a CFA charterholder.

Session Overview

Tuesday, 3 November

12:05

Finance & Investment Plenary Hall B 12:05 - 12:35

Global oil markets: managing price risk through uncertainty

Global oil markets are navigating a disruptive market dominated by shipping disruptions, regional tensions, refinery outages and LNG market dynamics. These factors are pressuring supply and reshaping the risk calculus for upstream and trading decisions. Producers and financiers must read increasingly ambiguous supply signals while preparing for regulatory change and macroeconomic uncertainty. The harder task is distinguishing temporary dislocation from structural shift, because each points to a different investment and trading response. The forces reshaping oil markets in 2026 are not temporary disruptions but structural shifts that will determine upstream investment priorities, trading strategies and portfolio positioning for years to come.

Attendee Insights:
Evaluate how shipping disruptions, regional tensions and LNG market dynamics are reshaping oil supply and investment risk, and what they mean for upstream priorities in the near term.