OPEC Watch OPEC Monthly Oil Market Report (May) OPEC lowered its forecast for Russia’s oil production this year, but still expects it to rise. By contrast, we think Russia’s output will fall and see rising pressure on OPEC to step up output in... 13th May 2022 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Apr.) OPEC oil production rose a little in March, but the group continues to underproduce. What’s more, its optimistic non-OPEC supply forecasts suggest that it has no intention of boosting output in the... 12th April 2022 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Mar.) Although OPEC oil production rose in February, it remained well below target. And while OPEC left its 2022 oil demand and supply forecasts unchanged, it hinted at revisions due to “geopolitical... 15th March 2022 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Feb.) OPEC raised oil output in January, but the shortfall relative to target grew even larger. We never expected OPEC to manage to completely unwind its production cuts this year, but there is a growing... 10th February 2022 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Jan.) OPEC continued to raise output by less than its target in December. However, the group is still steadily raising output, which is a key reason why we see the market moving into a surplus this year. 18th January 2022 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) OPEC oil production increased in November, but once again by less than the group’s target. We think OPEC will continue to under-produce, but it should still account for a large share of the world’s... 13th December 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Nov.) Although OPEC oil production increased in October, it remained significantly below the group’s target. And with little prospect of a meaningful increase in non-OPEC output in the near term, we... 11th November 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Oct.) OPEC moved closer to its collective target output last month. However, it is now clear that if the group were to answer calls to raise output, it would involve abandoning the current quota system and... 13th October 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Sep.) The rise in OPEC’s oil output fell well short of its target in August. And given a higher oil demand forecast for 2022, alongside growing external pressure, we think that the risks are tilting towards... 13th September 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Aug.) OPEC’s oil production soared in July as Saudi Arabia unwound the bulk of its voluntary output cut. Although OPEC left its demand forecast unchanged, we think that the near-term demand outlook has... 12th August 2021 · 3 mins read
Energy Higher OPEC+ production to weigh on oil prices The OPEC+ agreement, signed yesterday, should help to stabilise oil prices and we expect Brent crude to trade in a narrow band of between $70 and 75 per barrel over next six months. But we expect... 19th July 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (July) OPEC’s oil production increased sharply in June, primarily because Saudi Arabia continued to unwind its voluntary production cut. Output should rise further in July on the back of larger quotas, and... 15th July 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (June) OPEC’s oil production increased sharply in May on the back of higher quotas and Saudi Arabia starting to phase out its voluntary production cut. Production will rise again in both June and July in... 10th June 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (May) OPEC’s overall production was largely unchanged in April, as most producers remained disciplined. However, compliance could slip later in the year if we are right and there is a surge in demand. 11th May 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Apr.) OPEC oil production rose a touch in March. We expect that the group’s production will hold steady throughout April, as existing quotas remain in place, but that it will increase thereafter as quotas... 13th April 2021 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Mar.) Saudi Arabia’s 1m bpd voluntary production cut meant that OPEC oil production plummeted in February. We expect OPEC production to remain low in March and April as Saudi Arabia continues its voluntary... 11th March 2021 · 3 mins read
