Climate Economics Update Taking stock of green investment needs Investment in the green transition is unlikely to rise quickly enough this decade to help achieve net zero by 2050. But a greater focus on areas including renewables and electric vehicles will still... 25th September 2023 · 3 mins read
Energy Update Oil prices – what goes up won’t come down in 2024 While we think Saudi Arabia and Russia’s supply cuts, which have sent oil prices surging in recent weeks, will be rolled over into next year, fears of triple digit prices in 2024 are overblown. We... 14th September 2023 · 4 mins read
Energy Update China’s demand for oil and natural gas will stay alight China’s energy demand has been a bright spot in the gloom of an ailing property sector and disappointing economic growth. We think China’s crude oil and natural gas demand will rise further next year... 30th August 2023 · 3 mins read
Energy Update Volatility a reminder scars remain in natural gas markets Price volatility in the wake of news of possible strike action at Australian LNG export terminals serves as a reminder that natural gas markets are still carrying the scars of Russia’s invasion of... 21st August 2023 · 2 mins read
Energy Update OPEC+ supply cuts to keep the oil price supported Saudi Arabia’s announcement yesterday that it would extend its unilateral oil production cut of 1m bpd into September sent the Brent crude oil price climbing to $85 per barrel, where it remains today... 4th August 2023 · 4 mins read
Energy Update Asia LNG price premium to TTF to persist The spot price of Asia LNG should trade at a premium to Europe’s TTF natural gas benchmark at end-2023 given stronger demand growth in Asia and the fact that LNG is more costly to produce. 12th July 2023 · 5 mins read
Climate Economics Update Key questions from our Climate Drop-In We recently held a Drop-in titled “Industry’s decarbonisation challenge – From aviation to property”, which you can view on-demand here. This Update addresses some of the questions we received during... 3rd July 2023 · 7 mins read
Energy Update Aviation will account for the bulk of oil demand growth Despite jet fuel being a fairly small share of total oil consumption, we suspect it will drive a large chunk of the 1.4m bpd growth in crude oil demand we anticipate this year. We think jet fuel... 21st June 2023 · 4 mins read
Energy Update No need to panic about Europe’s gas supply … yet Having fallen steadily for much of the last year, European natural gas prices surged last week. The catalyst was constrained supply. Given seasonally high stocks and subdued demand, we are not worried... 12th June 2023 · 3 mins read
Climate Economics Update Fixing leaks in Turkmenistan will only do so much Preventing large-scale leaks of methane from Turkmenistan’s creaking infrastructure would be a welcome sign of emissions-cutting efforts broadening out from carbon dioxide to include other harmful... 8th June 2023 · 4 mins read
Climate Economics Update Aviation pins its hopes on sustainable jet fuel The aviation sector is pinning its hopes on sustainable aviation fuel to help cut its carbon footprint over the coming decades. But any ramp-up in biofuel usage would pit aviation against the needs of... 25th May 2023 · 7 mins read
Energy Update China’s oil recovery not over yet China’s refineries pumped out more oil products than at any point in their history in the first four months of this year. This is perhaps not too surprising given that the removal of COVID-19... 25th May 2023 · 3 mins read
Energy Update Brent-WTI price spread to widen on US weakness The long-awaited inclusion of WTI Midland into Dated Brent is now taking place in a gradual month-long process that started on 2nd May. The inclusion of Midland could be a factor weighing on the Brent... 24th May 2023 · 4 mins read
Commodities Update Commodity prices to struggle in the next few months The key message from the latest China PMIs is that whilst China’s economy is likely to grow strongly this quarter, momentum is fading. This will be one factor weighing on commodity prices in the near... 4th May 2023 · 2 mins read
JODI Energy Demand Monitor JODI Energy Demand Monitor (Jan & Feb.) JODI data show that oil demand held up in advanced economies at the beginning of the year. We suspect this won’t last though as weakening economic activity drags on demand over 2023. The data also... 26th April 2023 · 3 mins read
Global Markets Update We think equities won’t move together with oil for a while Although equity and oil prices are usually positively correlated, we think equities will struggle in the next few months and that oil prices will end this year somewhat higher than they are now. We... 13th April 2023 · 5 mins read
