OPEC Watch OPEC Monthly Oil Market Report (Oct.) OPEC’s latest report shows that the group still expects demand for its crude oil to increase next year. This bolsters our view that the countries cutting supply from November will eventually reverse... 12th October 2022 · 3 mins read
Middle East & North Africa Economics Weekly OPEC+ decision fallout, Egypt’s IMF deal The decision by OPEC+ to cut oil production quotas by 2mn bpd from November will fall disproportionately on the Gulf members - Saudi Arabia, the UAE and Kuwait. This clearly presents a downside risk... 6th October 2022 · 6 mins read
Middle East & North Africa Economics Update OPEC+ cut highlights Saudi shift away from the US Yesterday’s decision by OPEC+ to cut oil production quotas by 2mn bpd adds to signs that, in a world economy that is fracturing, Saudi Arabia is tilting away from the US and leaning towards a China... 6th October 2022 · 8 mins read
Energy Data Response US Weekly Petroleum Status Report The fall in US commercial crude stocks last week is just one factor pushing the Brent crude price over $93 today, with the other being the decision by OPEC+ to cut its output quota by 2m bpd from... 5th October 2022 · 2 mins read
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
