OPEC Watch OPEC+ to roll over supply cut, despite price rise We expect OPEC+ to extend its current 7.7m bpd supply cuts for at least another three months at its next meeting. Although prices have rallied in recent weeks on hopes of a faster recovery in demand... 27th November 2020 · 2 mins read
Commodities Weekly OPEC+ unlikely to spring a surprise All eyes in the oil market will be on the OPEC and OPEC+ meetings on Monday and Tuesday next week. Given the renewed imposition of virus-related restrictions in Western economies, the near-term... 27th November 2020 · 7 mins read
Commodities Update Vaccine to push Brent price to $60 by end-2021 With widespread vaccination against COVID-19 now increasingly likely, we are revising up our oil demand forecasts for next year. And while OPEC+ will probably raise output a little faster in response... 27th November 2020 · 3 mins read
Energy Update Vaccine to push Brent price to $60 by end-2021 With widespread vaccination against COVID-19 now increasingly likely, we are revising up our oil demand forecasts for next year. And while OPEC+ will probably raise output a little faster in response... 27th November 2020 · 3 mins read
Commodities Weekly Oil to tread water ahead of OPEC+ meeting Most commodity prices rose this week, buoyed by news of further progress on COVID-19 vaccines. A rapid roll out of an effective vaccine suggests that economic activity, particularly in the US and EU... 20th November 2020 · 7 mins read
Energy Update Emerging Asia oil demand to lag behind China The recovery in oil demand across Emerging Asia has been highly uneven. Oil consumption in China is already back to pre-virus levels, and we think it will rise further in the year ahead. But... 19th November 2020 · 3 mins read
Energy Data Response US Weekly Petroleum Status Report Crude stocks rose last week as rebounding output offset increased refinery activity. Meanwhile, with new US virus cases continuing to rise, we suspect that the risks to demand are now firmly to the... 18th November 2020 · 2 mins read
Commodities Weekly Vaccine poses upside risk to forecasts Commodity prices benefitted from news of a potential vaccine for COVID-19 this week. The resulting boost to risk appetite pushed equities and most commodity prices higher, with the exception of... 13th November 2020 · 7 mins read
OPEC Watch OPEC Monthly Oil Market Report (Nov.) OPEC’s oil production jumped in October as Libyan output surged. But we expect that OPEC and its allies will extend their current level of supply cuts into early 2021, which will keep ex-Libya supply... 11th November 2020 · 3 mins read
Energy Update Vaccine would aid oil price recovery, but risks remain News of a vaccine sent oil prices surging on Monday on the back of expectations that this will enable demand to recover more quickly than previously thought. But higher prices also increase the... 11th November 2020 · 3 mins read
Energy Update Fresh lockdowns to weigh on European oil demand New national lockdowns in Europe have led us to revise down our oil demand forecasts for Q4. But the decline is likely to be much smaller than in Q2, not least because the economic hit will be less... 6th November 2020 · 2 mins read
Commodities Weekly China to continue offsetting weakness elsewhere Commodity markets shrugged off the uncertainty surrounding the US election and took direction from equity markets and the US dollar this week. Most commodity prices rose as equities jumped and the... 6th November 2020 · 8 mins read
Energy Data Response US Weekly Petroleum Status Report The plunge in US commercial stocks largely reflects a hurricane-related drop in output, rather than strong demand. And with virus cases rising, demand should remain subdued in the coming weeks. 4th November 2020 · 2 mins read
Energy Update Asia LNG price rally to peter out in months ahead We suspect that the rapid recovery in Asia LNG prices will run out of road in the coming months, as supply returns and LNG cargoes are potentially diverted away from Europe. 3rd November 2020 · 2 mins read
Commodities Update China PMIs paint positive picture for commodities China’s October PMI data add weight to our view that Chinese economic growth will continue to accelerate, even though we estimate that the economy is already back to its pre-virus trend. This will... 2nd November 2020 · 2 mins read
Commodities Weekly A Biden victory would have little impact on prices A lack of any detail in China’s Five-Year Plan and concerns about virus lockdown measures weighed on the prices of industrial metals this week. It now looks as though we will have to wait until Match... 30th October 2020 · 7 mins read
