Middle East & North Africa Economics Weekly BCT independence, Saudi-OPEC+, Egypt reforms The independence of Tunisia’s central bank has come under threat this week, which will only diminish any remaining hopes that the country’s IMF deal will be approved. Elsewhere, comments from Saudi... 25th May 2023 · 6 mins read
Event Energy Drop-In: Is OPEC+ gearing up for another cut? 1685624400 Speculation is building that, after its surprise April cut failed to lift oil prices for very long, OPEC+ could use its 3rd-4th June meeting to announce further production cuts.
Middle East & North Africa Chart Pack Gulf growth slowing The flash Q1 GDP figures for Saudi Arabia showed the economy grew at its weakest pace in two years at the start of 2023, reflecting the cut in oil production in line with the OPEC+ decision in October... 24th May 2023 · 12 mins read
Energy Update Brent-WTI price spread to widen on US weakness The long-awaited inclusion of WTI Midland into Dated Brent is now taking place in a gradual month-long process that started on 2nd May. The inclusion of Midland could be a factor weighing on the Brent... 24th May 2023 · 4 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial stocks slumped as imports fell sharply. Meanwhile, implied product demand rose, but we think the usual summer boost to demand may be more subdued this year as economic growth slows. 24th May 2023 · 2 mins read
Commodities Weekly US data the key driver of prices next week Dealmaking was a major driver of commodity prices this week. The 11th hour extension of the Black Sea Grain Initiative alleviated fears of Ukraine’s grain exports being cut off from world markets... 19th May 2023 · 6 mins read
Middle East & North Africa Economics Weekly Egypt reform progress, Saudi public finances Egypt’s government laid out fresh efforts this week to attract greater foreign investment into the country which also coincided with the first state asset sale in nearly a year. But, unless the... 18th May 2023 · 6 mins read
Commodities Chart Pack Demand concerns a lingering headwind for prices Most commodity prices have moved lower over the past month as concerns about demand have intensified and risk appetite has soured. We think prices will continue to struggle over the next few months as... 16th May 2023 · 13 mins read
Commodities Weekly Weak demand will weigh on prices for some time The demand backdrop for commodities appears weak. While oil prices rose this week, they remain low by recent standards at $70-75 per barrel. Industrial metal prices, which rallied late last year and... 12th May 2023 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Today’s stocks report showed a rise in commercial crude inventories last week, confounding analyst expectations of a drawdown. However, total stocks fell, which helps to explain why oil prices have... 10th May 2023 · 2 mins read
Event Drop-In: Climate goals and the energy market’s radical redesign 1684332000 Although global energy consumption has increased 300% since 1965, the energy mix has barely budged, with the share of fossil fuels falling to just 82% from 93%.
Commodities Update Commodity prices to struggle in the next few months The key message from the latest China PMIs is that whilst China’s economy is likely to grow strongly this quarter, momentum is fading. This will be one factor weighing on commodity prices in the near... 4th May 2023 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial stocks continued to fall last week despite lower refinery runs and higher net imports. On the products side, total demand eased back. Of course, one week’s data are not sufficient to mark a... 3rd May 2023 · 2 mins read
Commodities Weekly Demand concerns back on the menu Commodity prices generally fell earlier this week on the back of investors’ growing concerns about the outlook for commodities demand. Later in the week, the release of softer-than-expected US Q1 GDP... 28th April 2023 · 6 mins read
Energy Focus Introducing our long-term energy market forecasts The global energy market is in the early days of a radical redesign due to the need to cut greenhouse gas emissions. In this Focus, we introduce our long-term energy market forecasts, which are... 27th April 2023 · 14 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial stocks fell last week as production and net imports declined. Meanwhile, product demand remains resilient, but we doubt oil demand can weather the mounting economic headwinds much longer. 26th April 2023 · 2 mins read
