Nordic & Swiss Economics Weekly Norway faces its own energy crisis While Norway is not directly in the firing line from the reduction in Russia’s gas exports, it has now got its own problems with low water levels in its hydro reservoirs. This may add a bit to Norway... 12th August 2022 · 4 mins read
OPEC Watch OPEC Monthly Oil Market Report (Aug.) OPEC’s monthly report for August showed that the group continues to produce significantly less than its quota and we expect this trend to continue in the coming months. OPEC is clearly worried about... 11th August 2022 · 3 mins read
Middle East & North Africa Economics Weekly Egypt: PIF steps up investment; CBE rate hike on the cards Saudi Arabia’s Public Investment Fund has stepped up investments into Egypt this week that will help to ease external financing concerns. At the same time, electricity rationing will begin next week... 11th August 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report The rise in US crude stocks was in large part down to a drop in exports. More interesting was the jump in implied gasoline consumption, which probably reflects the recent fall in prices. This may not... 10th August 2022 · 2 mins read
Middle East & North Africa Economics Update Qatar’s LNG boost still a few years away With Russia tightening its squeeze on supply of gas to Europe, governments are turning their attention to other major gas exporters such as Qatar to try to fill the gap. But Qatar’s gas sector is... 9th August 2022 · 6 mins read
Europe Economics Focus How big is the threat of an end to Russian gas exports? An end to Russian gas exports to Europe would prompt us to forecast a deeper recession in the euro-zone this winter than we currently anticipate. The hit would come partly through higher inflation... 9th August 2022 · 21 mins read
Energy Update We’re less upbeat about OPEC oil supply Concerns about the demand outlook have dragged the Brent crude oil price towards $90 per barrel this week. But, the supply-side concerns which pushed the price over $120 per barrel not too long ago... 5th August 2022 · 2 mins read
Commodities Weekly Oil prices fall, but supply risks remain In a week of relative financial market calm, there was a pause in the large, sentiment-driven swings that have characterised most commodity prices in recent weeks. Instead, prices seemed to take... 5th August 2022 · 6 mins read
Japan Economics Weekly The rise and fall of Japan's energy imports Japan is still struggling to wean itself off fossil fuels despite a new government push to boost solar power. However, the country has become more energy efficient over the past decade, which has... 5th August 2022 · 3 mins read
Europe Data Response German Industrial Production (Jun.) The small increase in German industrial production in June was not enough to reverse declines earlier in the year and left output well below pre-pandemic levels. Things are going to get more difficult... 5th August 2022 · 2 mins read
Middle East & North Africa Economics Weekly Egypt’s prolonged IMF talks, OPEC+ fallout Egypt’s Finance Minister Mohamed Maait argued this week that any financing agreement with the IMF would be much smaller than the $15bn suggested by some analysts but, if anything, the drawn out nature... 4th August 2022 · 7 mins read
Emerging Europe Economics Update Russia’s economy is wounded, not screaming in pain Western sanctions have caused activity in certain sectors of Russia’s economy to collapse, but activity has held up reasonably well in key areas such as oil production and less import-dependent... 3rd August 2022 · 4 mins read
Commodities Weekly Prices rally, but room for further gains is limited The prices of most commodities across energy, metals and agriculturals rose this week. The common driver was investors dialling back their expectations of the aggressiveness of US monetary policy... 29th July 2022 · 6 mins read
Emerging Europe Economics Weekly Russia cuts gas supplies, signs of slowdown mount The news that Russia's Gazprom has cut gas exports to Europe further this week has increased the likelihood of recessions in many countries at a time that economic activity more broadly is already... 29th July 2022 · 8 mins read
Europe Economics Weekly Gazprom turns the screws Gazprom’s announcement this week that it is reducing the supply of gas through Nord Stream 1 to only a fifth of its normal capacity has pushed European natural gas prices up once again and threatens... 29th July 2022 · 7 mins read
Commodities Outlook Prices to find a floor While non-energy commodities prices may fall a little further, we think the big move down in those prices is now behind us. Admittedly, the demand outlook has undeniably deteriorated in recent months... 28th July 2022 · 40 mins read
