OPEC Watch Any OPEC+ cut will not be as large as it seems OPEC+ may announce a major cut to oil production quotas tomorrow. But with the current quota not being met, the actual hit to oil supply will be much smaller. We estimate that a 1m-barrel-per-day (bpd... 4th October 2022 · 2 mins read
Middle East & North Africa Economics Weekly OPEC+, Lebanon re-pegging, Morocco rates, MbS to PM Reports suggest that OPEC+ is weighing up a cut to output quotas for the second meeting in a row next week, presenting a downside risk to our above-consensus GDP growth forecasts in the Gulf... 29th September 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks fell slightly for the first time in four weeks, while product stocks decreased much further. The latter was mostly owing to the sharp increase in product demand. But we... 28th September 2022 · 2 mins read
Middle East & North Africa Economics Weekly UAE oil capacity, Egypt FX restrictions, Saudi-rupee trade The UAE is seeking to raise oil production capacity more aggressively than previously planned as it aims to get ahead of peak oil demand and capture oil market share. Elsewhere, Saudi Arabia also... 22nd September 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks rose for the third successive week in part due to a bounce back in imports, but also subdued domestic demand. The backdrop of rising interest rates and still-high prices suggest... 21st September 2022 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks rose, despite a fall in net imports and a rise in refinery activity. Although export demand remains strong, domestic demand is weak, probably reflecting falling real incomes. 14th September 2022 · 2 mins read
Energy Watch OPEC Monthly Oil Market Report (Sep.) OPEC’s latest report shows that most producers raised oil output in August, but the gap between targeted production and actual production widened. OPEC also looks optimistic on oil demand to us, which... 13th September 2022 · 3 mins read
Middle East & North Africa Economics Update Saudi economy set for strongest growth in a decade Saudi Arabia’s economy enjoyed a strong Q2, growing by a rapid 12.2% y/y, and timely data point to a robust third quarter as well. However, the recent cautious approach taken by OPEC+ towards oil... 13th September 2022 · 2 mins read
Capital Daily Inflation compensation may not rise, even if oil prices do US inflation compensation has declined over recent weeks as oil prices have fallen back. But this relationship isn’t set in stone and, even if oil prices rise again, inflation compensation may not. 12th September 2022 · 5 mins read
Commodities Weekly Energy supply concerns take a back seat… for now Energy markets took centre stage this week as demand concerns outweighed supply concerns, dragging prices down. Even the decision by OPEC+ on Monday to cut oil output quotas for October by 100,000 bpd... 9th September 2022 · 6 mins read
Energy Update Brent price premium to persist Europe’s scramble to replace Russian oil has left the price of Brent crude trading at a substantial premium to WTI for most of this year. But we expect this premium to narrow in 2023-24 as low US... 9th September 2022 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude oil stocks rose last week for the first time in four weeks, as imports increased while exports and refinery usage fell. But stocks will probably continue to remain at still-low... 8th September 2022 · 2 mins read
Middle East & North Africa Economics Weekly OPEC+ decision, a flexible EGP, inflation in MENA OPEC+’s decision to cut oil output quotas by 100,000bpd at Monday’s meeting and subsequent comments from the Saudi energy minister highlight the group’s wariness of a global recession and we expect... 8th September 2022 · 7 mins read
Energy Rapid Response OPEC+ symbolic cut will have no impact on supply 5th September 2022 · 1 min read
Commodities Rapid Response OPEC+ symbolic cut will have no impact on supply 5th September 2022 · 1 min read
