Energy Data Response US Weekly Petroleum Status Report US crude stocks recorded a hefty build, primarily reflecting a decline in refinery inputs as net imports plunged and production remained unchanged. 13th February 2019 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Feb.) January production data showed that OPEC is more than complying with the output cuts announced in late 2018, which probably explains the relative resilience of oil prices in recent weeks. However, we... 12th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks nudged up, despite a fall in net imports and a rise in refinery activity. Although US product demand remains robust, we expect it to ease back later in 2019 as the economy starts to... 6th February 2019 · 1 min read
Energy Chart Pack Oil output cuts are working, for now The price of oil rose strongly in January and is likely to remain supported in the coming months by the OPEC+ output cuts and the risk of severe disruption to Venezuela’s production. However, we think... 4th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks edged up a touch, as inputs to refineries plunged. Product demand is holding up well for now, but we expect it to fall later in the year as the US economy slows. 30th January 2019 · 1 min read
Energy Outlook Global slowdown to drive a fall in energy prices Our forecast of slower global growth in 2019-20 is a key factor underpinning our bearish outlook for the prices of oil and coal. What’s more, we expect further declines in global equity markets and a... 29th January 2019 · 1 min read
Latin America Economics Update US sanctions PDVSA, next few months critical The decision by the US to impose sanctions on Venezuela’s state-owned oil company, PDVSA, will lead to a large loss of export earnings in the next few months. If Maduro can cling on to power during... 29th January 2019 · 4 mins read
Energy Update Too soon to write off Venezuela The received wisdom in the oil market is that the latest political turmoil in Venezuela is positive for oil prices as it could lead to further disruptions to the country’s oil supply. But a change of... 25th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks jumped, after falling for the past two weeks, despite no change in production. That said, the large jump in production may not be repeated this year given low prevailing prices. 24th January 2019 · 1 min read
Middle East & North Africa Economic Outlook Fresh slowdown on the cards The region’s recovery is set to falter in 2019 and growth is likely to be weaker than most expect. Low oil prices shouldn’t cause major balance sheet strains in the Gulf, but tighter fiscal policy and... 22nd January 2019 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Dec.) Following the decision by OPEC and its allies to reduce output for six months from January, the latest data showed OPEC’s commitment to remove much of the apparent excess supply in the oil market. But... 17th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell for the second consecutive week, despite an increase in production and a lower input to refineries. And the further build in gasoline and distillate stocks suggest softening... 16th January 2019 · 1 min read
Australia & New Zealand Economics Weekly Oil, housing and the labour market While the recent falls in oil prices may boost consumer spending, they render investment in new LNG projects less attractive and may therefore restrain mining investment. Meanwhile, the slump in... 11th January 2019 · 1 min read
Energy Update A downward revision to the 2019 oil price forecast Changes to our wider global macroeconomic and market forecasts have prompted us to re-assess the outlook for oil prices. We now expect slower growth in global demand and rising US production to return... 10th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell in the first week of 2019 and domestic production was unchanged. The hefty gains in refined product stocks, despite the dip in the refinery utilisation rate, make it clear that... 9th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose at the end of December as domestic production remained stable and crude inputs to refineries grew. While the slight increase in crude stocks is not too concerning, the surge in... 4th January 2019 · 1 min read
