Energy Update JODI Energy Demand Monitor (Nov. & Dec.) JODI data on global oil and natural gas consumption show that global energy demand was weak in late 2022. China’s rapid reopening will likely boost demand for both. But plenty of downside risk remains... 8th March 2023 · 4 mins read
Commodities Update China’s oil imports to pick up from here China’s imports were weak in January-February, but commodity imports fared better. What’s more, we think crude oil imports, in particular, will pick up from here given the resurgence in travel demand. 7th March 2023 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks rose only slightly this week but this was despite a jump in US crude exports to a new record. With US domestic fuel demand unlikely to surge anytime soon, crude exports should... 1st March 2023 · 3 mins read
Commodities Weekly Commodity markets still in flux one year into the war It has been a tumultuous year since the outbreak of war in Ukraine. Energy markets are still in a state of flux, though they have calmed significantly. (The prices of European gas and Brent crude have... 24th February 2023 · 6 mins read
Middle East & North Africa Chart Pack Gulf slowdown underway After a stellar performance for most of 2022, the Gulf economies are slowing. Primarily, that has reflected the impact of oil production cuts agreed with the rest of OPEC+ which is weighing on growth... 23rd February 2023 · 14 mins read
Energy Update We are sceptical of Nigeria’s oil production promises We don’t think that the election in Nigeria on Saturday will lead to a sudden improvement in crude oil production. The oil industry’s challenges in the country are too deep-seated. But the long... 22nd February 2023 · 3 mins read
Energy Update Further cuts to Russian oil production still on the table Russia’s crude oil production has, up until now, been remarkably resilient in the face of Western sanctions. But the recent announcement of a voluntary cut seems to be the first concrete sign that... 17th February 2023 · 2 mins read
Event Africa Drop-In: Nigeria’s crunch presidential election 1677160800 Nigerians go to the polls on 25th February for general elections which could put the country on a very different path.
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks rose to their highest since June 2021 last week due to lower refinery activity. With crude demand likely to remain sluggish over the coming months, and the US government set to... 15th February 2023 · 3 mins read
OPEC Watch OPEC Monthly Oil Market Report (Feb.) OPEC’s monthly report for February did not make any major revisions to its forecasts. That said, the group is clearly worried about both the outlook for global demand and supply from Russia. We think... 14th February 2023 · 4 mins read
Commodities Weekly All eyes on US data next week It was a fairly quiet week in commodities markets, although oil prices rose on concerns about earthquake-related disruption to exports from the Turkish port of Ceyhan and Russia’s announcement of a 0... 10th February 2023 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks rose again this week, despite a rise in inputs to refineries. That said, refinery activity is unlikely to pick up markedly in the coming weeks given ongoing maintenance and... 8th February 2023 · 3 mins read
Emerging Europe Economics Focus CEE’s energy crisis: looking beyond this winter The energy crisis in Central and Eastern Europe has lost some of its bite as natural gas prices have slumped and countries have made good progress in replacing Russian energy supplies. This has... 6th February 2023 · 25 mins read
Commodities Weekly Russian petroleum product exports to struggle The EU’s ban on imports of Russian petroleum products will come into force on Sunday, which could raise EU fuel prices and weigh on Russia’s product exports. However, we suspect Russia will offer... 3rd February 2023 · 6 mins read
Energy Update Russia products ban to boost prices, at least initially The EU’s imminent ban on Russia’s refined oil may see EU prices rise, but major disruption is unlikely. Even so, Russia will find it more difficult to find new buyers for its refined oil than it did... 3rd February 2023 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Commercial crude stocks continued to climb last week as refinery activity remained in the doldrums and net imports rose. We believe that a recovery in refinery activity and higher demand for crude oil... 1st February 2023 · 3 mins read