Energy Data Response US Weekly Petroleum Status Report US crude oil stocks edged lower in early December as domestic output fell back and inputs to refineries remained high. Stocks may fall further in the coming weeks, if refinery activity remains strong. 12th December 2018 · 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
Commodities Update Slower growth in demand to weigh on oil prices We expect a combination of slower global GDP growth and persistent rises in US shale output to lead to lower oil prices in 2019. Our end-2019 forecast for Brent is now $55 per barrel ($60 previously). 11th December 2018 · 1 min read
Middle East & North Africa Economics Update Stronger growth in Saudi Arabia won’t last Our GDP Tracker suggests that Saudi Arabia’s economy accelerated in Q3 but last week’s OPEC deal to cut oil output means that a fresh slowdown is on the cards in early 2019. 11th December 2018 · 1 min read
Energy Watch IMO 2020 not a major issue for oil With the upcoming change to regulations on marine fuel sulphur content due to come into effect on January 2020, this Energy Watch will examine the implications for the oil market. While we don’t... 11th December 2018 · 1 min read
Emerging Markets Economics Update What does the OPEC deal mean for EM oil producers? The agreement between OPEC and other major oil producers to cut oil production is likely to act as a headwind to growth across EM oil producers next year. The Gulf economies will suffer the biggest... 10th December 2018 · 1 min read
Commodities Update Domestic weakness in China curbs commodity imports China’s commodity import volumes softened last month, underpinning our view that slower growth in the broader economy will take its toll on China’s commodity demand and prices. The only exception was... 10th December 2018 · 1 min read
Commodities Weekly OPEC gives a boost to prices in the near term The 1.2m bpd output cut announced by OPEC and its allies today should absorb much of the oil market surplus in the short term. As such, it has sparked a rally in oil prices and in commodities more... 7th December 2018 · 1 min read
Middle East & North Africa Economics Update OPEC deal means weaker growth in the Gulf in 2019 The deal reached by OPEC to reduce oil output means that the economic slowdown in the Gulf that we had expected from the middle of next year will now occur earlier and be more severe. Accordingly, we... 7th December 2018 · 1 min read
Energy Chart Pack Surging supply weighs on oil prices Oil prices slumped in November as rising production in the US, Russia and Saudi Arabia prompted fears of oversupply. The market is now hoping that OPEC and its allies will agree to cut output, which... 6th December 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude oil stocks fell sharply at end-November for the most part owing to a jump in US exports, which could be sustained given that crude prices in the US are still markedly lower than elsewhere. 6th December 2018 · 1 min read
Middle East & North Africa Economics Weekly OPEC meets, Egypt’s exchange rate policy OPEC’s biannual meeting kicked off today and all the signs are that the cartel will agree to an output cut by the time the meeting concludes tomorrow. Meanwhile, the Egyptian authorities have taken... 6th December 2018 · 1 min read
Latin America Economics Update Mexico: is energy reform now dead? The decision by Andrés Manuel López Obrador (Amlo) to seemingly postpone Mexico’s deep water oil auctions for three years is unlikely to have a major bearing on oil production in the near term. But it... 5th 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
Canada Economics Update GDP growth heading toward zero in first quarter The combined effect of Alberta’s forced oil production cuts and the slump in oil prices on activity in the sector are set to push Canadian GDP growth down to around 0.5% annualised in the first... 4th December 2018 · 1 min read
Middle East & North Africa Economics Update Qatar leaving OPEC not a game changer Qatar’s decision to pull out of the oil cartel, OPEC, is unlikely to have a major impact on global energy markets but it further cements the country’s feud with Saudi Arabia and its allies. The... 3rd December 2018 · 1 min read
