Energy Data Response US Weekly Petroleum Status Report The pace of builds in US crude stocks continued to slow last week as refinery activity surged. However, we expect stocks to ease back in the coming weeks as refinery capacity utilisation steadily... 24th March 2021 · 2 mins read
Energy Update Surge in US oil production still seems very unlikely Despite the ongoing rise in the number of rigs actively drilling for oil, we continue to expect a lacklustre recovery in US oil production over the next couple of years. 24th March 2021 · 2 mins read
Commodities Weekly Optimists need a little patience Commodities markets experienced a bit of a reality check this week, with prices falling despite little material change in the underlying demand and supply fundamentals. In the same way that optimism... 19th March 2021 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report Even with the continued recovery in refinery activity, US crude stocks rose last week. However, we suspect that stocks will fall soon as refinery activity rises further and crude production holds... 17th March 2021 · 2 mins read
Commodities Focus The anatomy of a supercycle History shows that supercycles are usually demand-driven, and that the performance of individual commodity prices has varied hugely both within and between past supercycles. In addition, supercycles... 17th March 2021 · 13 mins read
Commodities Update Supply constraint to support prices in the near term The deeper-than-expected production cuts by most OPEC+ member states and a revival in global demand means that the oil market is now likely to be in a bigger deficit than we had previously envisaged... 12th March 2021 · 3 mins read
Japan Economics Weekly Legacy of Fukushima nuclear meltdown 10 years on On the 10 th anniversary of the meltdown at Fukushima Daiichi nuclear power station, we take a closer look at the disaster’s lasting legacy of higher electricity prices. On the eve of the pandemic... 12th March 2021 · 7 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
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks soared again last week as refinery throughput remained well below normal levels. Given that production has almost entirely recovered, stocks will probably rise further next... 10th March 2021 · 2 mins read
Commodities Weekly Oil prices making up for lost time It was a relatively two-sided affair in commodities markets this week. On the one hand, oil prices rose on the back of greater-than-expected output restraint announced by OPEC+. And on the other hand... 5th March 2021 · 8 mins read
Commodities Update Oil to miss out on the next commodity supercycle Slower demand growth and an abundance of supply will limit gains in oil prices over the long term, which we think will ultimately prevent oil from featuring in the next commodity supercycle. Join us... 4th March 2021 · 3 mins read
Industrial Metals Update Checking back in with our demand proxies Our in-house demand proxies offer further evidence that industrial metals prices are running ahead of the underlying fundamentals. This helps to explain the sharp drop in industrial metals prices... 4th March 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks skyrocketed last week as refinery activity plunged and net imports surged. We expect stocks to a rise a bit further in the coming weeks as refinery throughput remains... 3rd March 2021 · 2 mins read
Energy Chart Pack Oil catch-up still has some way to go Oil prices have managed to claw back their lockdown-induced losses from last year, and we think that they will rise in the coming months as demand continues to revive. Meanwhile, natural gas and coal... 3rd March 2021 · 6 mins read
Commodities Chart Pack Investor optimism may prove short-lived Most commodity prices rose in February encouraged by falling COVID-19 infections and the vaccine rollout, which point to a recovery in economic activity and higher commodities demand later in the year... 1st March 2021 · 7 mins read
Energy Update Biden’s foreign policy and its energy market impact President Biden’s stance regarding international climate policy and the Iranian nuclear deal is very different from Donald Trump’s, but we are sceptical that he will be able to enact any significant... 25th February 2021 · 3 mins read
