OPEC Watch OPEC Monthly Oil Market Report (Aug.) OPEC production rose in July and the recent introduction of higher quotas means that output will almost certainly continue to increase in the coming months. 12th August 2020 · 3 mins read
Energy Update Global oil demand to remain weak throughout 2021 We think that it will take over a year for oil product consumption to recover to pre-virus levels. This in turn will limit crude oil demand for the next 18 months or so and any near-term price gains. 11th August 2020 · 3 mins read
Commodities Weekly Downside risks building Upbeat manufacturing data from the US and China bolstered risk appetite this week, helping the prices of industrial commodities record another strong week. However, precious metals prices also did... 7th August 2020 · 8 mins read
Commodities Update China’s industrial commodity import volumes to fall China’s industrial import volumes rose in July, which is consistent with the recovery in economic activity and opportunistic stockpiling at low prices. While final commodity demand will remain strong... 7th August 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks fell steeply again last week, in part because refinery activity is continuing to revive. We think that stocks will decline further in the coming weeks as product demand... 5th August 2020 · 2 mins read
Commodities Update The coronavirus and agricultural demand The coronavirus has changed how people live their lives and spend their money. The consumption of almost all agricultural commodities has fallen so far this year and we expect that it will take until... 5th August 2020 · 4 mins read
Commodities Weekly All eyes on the next US fiscal package Mounting signs of a rapid rebound in the Chinese manufacturing and construction sectors, as well as a further depreciation in the US dollar, offered some support to industrial commodity prices this... 31st July 2020 · 7 mins read
Energy Outlook Energy demand to remain subdued for some time yet The partial easing of coronavirus containment measures has allowed energy demand and prices to pick up from the lows recorded earlier this year. That said, we anticipate that the recovery in energy... 29th July 2020 · 18 mins read
Commodities Outlook China to the rescue The ongoing recovery in economic activity – from lows earlier this year – will support the prices of most commodities in the second half of 2020 and into 2021. We are particularly positive on the... 29th July 2020 · 1 min read
Commodities Ultra-low real yields to keep gold elevated Despite some jitters in equity markets, commodity prices generally ended the week higher. In what is becoming a well-worn pattern, optimism about a robust economic recovery continued to build – this... 24th July 2020 · 8 mins read
Energy Data Response US Weekly Petroleum Status Report An increase in crude oil production and a reduction in refinery throughput led to an increase in crude stocks last week. However, we think that stocks will fall back in the coming weeks as product... 22nd July 2020 · 2 mins read
Commodities Weekly Prices in a narrow range amid virus concerns A raft of positive Chinese economic data this week offered some support to commodity prices, but concerns about the rise in coronavirus infections in the US and in Latin America prevented any... 17th July 2020 · 7 mins read
Commodities Update The Siberian heatwave and commodities Unseasonably hot weather in Siberia in recent months has weighed on wheat production and damaged industrial infrastructure. Scientists think that future heatwaves in the region will become more common... 16th July 2020 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (July) OPEC production continued to decline in June, largely due to a contraction in Saudi output. However, with OPEC becoming more optimistic on demand, we think that (new) higher quotas will be introduced. 14th July 2020 · 3 mins read
Energy Update Five key questions about the EU’s hydrogen strategy The recent launch of the European Commission’s hydrogen strategy marks a step forward in the region’s decarbonisation push in which it hopes to use ‘green’ hydrogen in place of fossil fuels. We answer... 10th July 2020 · 3 mins read
Commodities Weekly Broad-based recovery leaving energy behind The prices of most commodities rose this week, with the exception of energy. In particular, industrial metal prices rose alongside Chinese equities. Elsewhere, the European economic recovery is... 10th July 2020 · 7 mins read
