Global Economics Chart Pack Vaccines won’t prevent a weak start to the year While the economic fallout will not be as severe as it was with the first lockdowns, the surge in virus cases will weigh on activity in Q1. Vaccine rollouts should provide a boost to the global... 12th January 2021 · 14 mins read
Energy Update Key energy forecasts for 2021 We expect the prices of most energy commodity to rise in 2021, as demand revives in line with the global economic recovery. But coal prices are likely to fall back, as demand growth in major consuming... 11th January 2021 · 3 mins read
Commodities Weekly Saudi Arabia springs a surprise After a strong finish to 2020, most commodity prices built on their gains in the first week of January, as investor sentiment continued to prove supportive and Saudi Arabia announced that it would... 8th January 2021 · 7 mins read
Energy Chart Pack Energy continues to play catch-up Energy commodity prices for the most part ended 2020 on a high, buoyed by strong seasonal demand, an increase in investor risk appetite and a weaker US dollar. And while energy commodities were the... 7th January 2021 · 6 mins read
Energy Update Saudi production cuts to boost prices If implemented, Saudi Arabia’s shock pledge to cut oil production by 1m bpd in February and March should offset much of the current lockdown-related weakness in global oil demand. Consequently, the... 7th January 2021 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report Crude stocks plummeted at the beginning of 2021, explained by an increase in refinery activity and persistently robust exports. However, rising product stocks point to subdued consumption. 6th January 2021 · 2 mins read
India Chart Pack Cautious optimism as 2020 ends COVID-19 has ravaged India’s economy in 2020, and GDP is all but certain to have suffered its largest slump on record this year. But there are reasons for optimism as the year draws to a close... 23rd December 2020 · 9 mins read
Commodities Update Australian coal exports to hold up, despite tensions One of the latest casualties of heightened China-Australia geopolitical tensions is Australian coal exports. But we think that this will have limited implications for demand and prices as, for the... 22nd December 2020 · 4 mins read
Energy Update Australian coal exports to hold up, despite tensions One of the latest casualties of heightened China-Australia geopolitical tensions is Australian coal exports. But we think that this will have limited implications for demand and prices as, for the... 22nd December 2020 · 4 mins read
Energy Update European gas prices to narrow gap with Asia next year We expect the unusually large discount in natural gas prices in Europe relative to those in Asia to shrink in the year ahead as the recovery in European demand gathers pace. 18th December 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks declined in the latest data as net imports plummeted. But refinery activity remains subdued and the latest virus-related restrictions could see lower product demand in the coming weeks... 16th December 2020 · 2 mins read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) OPEC cut its 2021 oil demand forecast in its latest report, which we suspect could delay further easing of its production cuts early next year. This should help put a floor under prices. 14th December 2020 · 3 mins read
Commodities Weekly Oil prices begin to claw back lost ground Despite the re-introduction of lockdown measures in some US states, industrial commodities prices continued to rise this week on the back of ongoing hopes of a vaccine-induced economic boom next year... 11th December 2020 · 7 mins read
Energy Update Assessing the outlook for coal-gas switching in Europe The substitution of coal for natural gas in European power generation has reversed in recent months, but we doubt that this marks the start of a new trend. Instead, we think that gas-based power in... 11th December 2020 · 3 mins read
Energy Update Reviewing the risks to our 2021 oil price forecast We forecast that a substantial pick-up in oil demand in the second half of next year amidst a backdrop of constrained supply will push Brent oil prices to around $60 per barrel by end-2021. That said... 10th December 2020 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report The huge counter-seasonal build in US commercial crude stocks last week was driven by a surge in net imports. We expect that it will take some time before stocks fall back to more “normal” levels. 9th December 2020 · 2 mins read
