OPEC Watch OPEC Monthly Oil Market Report (Dec.) Following the decision by OPEC and its allies to reduce output for six months from January, the latest data showed OPEC’s commitment to remove much of the apparent excess supply in the oil market. But... 17th January 2019 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Nov.) Amid growing concerns over a glut in the market, OPEC and its allies pledged to cut output. We estimate that these cuts will remove much of the apparent excess supply in the market, but think that the... 12th December 2018 · 1 min read
OPEC Watch What to expect from the OPEC meeting We expect OPEC and its allies to agree to cut oil output at this week’s OPEC meeting. This should at least put a floor under prices and may, depending on the size of the cut, boost prices. But with... 5th December 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Oct.) OPEC has revised down its forecast for oil demand in 2019 and raised its non-OPEC supply projection. This is consistent with our view that the market will be in surplus next year, which will weigh on... 13th November 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Sep.) The latest data suggest that Saudi Arabia is indeed capable of increasing production in order to offset falls in output in Iran and Venezuela. Weaker oil demand growth and higher supply from both OPEC... 11th October 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (August) The latest data show that Saudi Arabia still has sufficient spare capacity to increase production if it needed to offset falls in output in Iran and Venezuela. Slower growth in demand and higher... 12th September 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (July) The latest data show that Saudi Arabia still has plenty of room to increase production if it needed to offset falls in Iran and Venezuela. As such, the group’s production should continue to rise, at... 13th August 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (June) We think that OPEC’s production is likely to rise significantly over the next couple of months. That said, it could fall back later in the year as output from Iran is curtailed and Venezuelan... 11th July 2018 · 1 min read
OPEC Watch OPEC agrees to boost output We expect OPEC and Russia to increase production by about 1m barrels per day over the rest of the year, which should ensure ample supply and help to pull prices down. 25th June 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (May) We think that forecasts of even higher non-OPEC supply this year will push the cartel into increasing output at its meeting next week. 12th June 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (May) We still think that OPEC’s forecast that the market will be in a large deficit this year is too ambitious. But we do expect it to be close to balance as higher prices depress demand growth and... 14th May 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Apr.) OPEC revised up its forecast of non-OPEC production in 2018 again and estimated that the market was in a surplus in the first quarter. Admittedly, the cartel still expects the market to be in deficit... 12th April 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Mar.) There was another significant rise in OPEC’s forecast of non-OPEC production in 2018, reflecting recent strong growth in the OECD. However, the cartel still expects the market to be in a deficit this... 14th March 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Feb.) There was a significant rise in OPEC’s forecast of non-OPEC production in 2018, reflecting recent strong growth in the US. However, we still think that the cartel is underestimating growth in output... 12th February 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Jan.) Today’s report showed an unexpected rise in OPEC’s production in December, despite a dramatic decline in Venezuela’s output. At the same time, the group made a small upward revision to its... 18th January 2018 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) Today’s report showed that OPEC’s production fell again last month. However, the group also increased its expectations of non-OPEC supply growth. We think that the cartel is still being too optimistic... 13th December 2017 · 1 min read
