Commodities Weekly

OPEC+ temporarily sinks oil prices

The decision by OPEC+ last Sunday to increase output from October caught investors by surprise and sent oil prices sinking to below $78 per barrel early in the week. Ahead of the meeting, investors...

7th June 2024 · 5 mins read

Commodities Update

Attention turns towards the return of La Niña

A return of La Niña could provide some respite for those commodity producers who have been hit hardest by El Niño. But it could also pose problems for others – not least in South America – and so...

6th June 2024 · 3 mins read

Middle East & North Africa Economics Weekly

UAE exceptionalism, Egypt reshuffle, Saudi mortgages

The decision by OPEC+ to roll over oil production cuts until October will reduce economic growth in the Gulf this year, but the UAE has emerged a clear winner. Higher oil output there will lead to a...

6th June 2024 · 7 mins read

Commodities Chart Pack

Commodities Overview Chart Pack (June 2024)

Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. OPEC+’s decision to roll over its production cuts into Q3 will keep supply...

6th June 2024 · 1 min read

Energy Chart Pack

Energy Chart Pack (Jun. 2024)

Our Energy Chart Pack has been updated with the latest data and our analysis of recent developments. The agreement by OPEC+ to rollover voluntary production cuts into Q3 will keep global oil supply...

5th June 2024 · 1 min read

Metals Chart Pack

Metals Chart Pack (June 2024)

Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. The rally in industrial metals prices over the last few months has begun to unwind and, because it...

4th June 2024 · 1 min read

Energy Update

OPEC+ to turn on the taps, oil prices to fall in 2025

At long last, OPEC+ outlined a plan on Sunday for when and how members would unwind the large production curbs currently in place. We assume that this plan is followed through and that output...

4th June 2024 · 3 mins read

Middle East & North Africa Economics Update

OPEC+ decision to keep a lid on Gulf economies’ growth

The decision by OPEC+ to keep oil production lower over the rest of this year means that oil sectors in the Gulf will grow more slowly than we had previously anticipated and we have revised down our...

3rd June 2024 · 3 mins read

Commodities Weekly

Reading the OPEC+ tea leaves: rollover is on the cards

The decision by OPEC+ to move its crunch meeting from in-person on Saturday in Vienna to online on Sunday, historically a sign of an uneventful meeting, suggests that members will rollover production...

31st May 2024 · 5 mins read

Middle East & North Africa Economics Weekly

OPEC+ set for crunch talks and Egypt’s fiscal reforms

This weekend’s OPEC+ meeting could be a stick or twist moment with markets increasingly believing the group will roll over its quotas and voluntary cuts again. If quotas are extended, that risks...

30th May 2024 · 6 mins read

Middle East & North Africa Chart Pack

Middle East and North Africa Chart Pack (May 2024)

Low oil output in the Gulf has constrained economic growth so far this year and the upcoming OPEC+ meeting will prove pivotal to the outlook over the rest of this year. Elsewhere in Middle East and...

29th May 2024 · 1 min read

Australia & New Zealand Economics Focus

Labor isn’t wrecking the economy just yet

Labor’s regulatory push can’t be blamed for the recent slump in labour productivity and we aren’t convinced that it will hold back future productivity growth much either. Indeed, we still think that a...

28th May 2024 · 17 mins read

Commodities Weekly

EU gas and carbon price rallies are on borrowed time

The 12% rise in European natural gas prices this week bucked the trend of sharp falls in oil and precious metal prices. Nonetheless, with European gas demand set to stay subdued, and copious supplies...

24th May 2024 · 5 mins read

Industrial Metals Focus

How metals-hungry will the green transition be?

The metals-intensive nature of green technologies will add to demand for a host of industrial and battery metals, with green demand for copper and aluminium likely to grow twice as quickly as...

23rd May 2024 · 17 mins read

US Commercial Property Chart Pack

US Commercial Property Chart Pack (Q2 24)

Weak investment activity and continuing cap rate rises in Q1 fit with our view for another tough year for real estate. All-property values are now down by 17% from their mid-2022 peaks. But we still...

22nd May 2024 · 1 min read