Middle East & North Africa Economics Weekly

Saudi foreign investment report, OPEC+ decision

Media reports picked up on data published by Saudi Arabia this week which showed that 2024 was a record year for foreign direct investment inflows. But this didn’t take account of the fact that there...

11th September 2025 · 7 mins read

Commodities Focus

OPEC at 65: shifting market dynamics expose frailties

The Organisation of the Petroleum Exporting Countries (OPEC) shows no signs of slowing down in its “golden years”, but question marks about the future of oil demand, as well as the resilience of non...

10th September 2025 · 20 mins read

Commodities Update

OPEC+ desire to pump will lead to oil prices falling

OPEC+ seems to be cautiously optimistic on the strength of the oil market as it remains committed to unwinding voluntary output cuts. However, we suspect it will become increasingly clear that the oil...

8th September 2025 · 4 mins read

Commodities Weekly

Polish gold appetite; OPEC+ whispering; Power of Siberia 2

The National Bank of Poland’s plans to raise gold’s allocation in its FX reserves to 30% highlights that there is no shortage of gold buyers, which could help lift prices well beyond their latest...

5th September 2025 · 4 mins read

Middle East & North Africa Economics Weekly

OPEC+ meeting, Saudi debt issuances & housing reforms

We suspect that the OPEC+ meeting on Sunday will result in a decision to keep oil production unchanged in October, rather than raise production further. But the risks to oil prices are still skewed to...

4th September 2025 · 8 mins read

Commodities Chart Pack

Commodities Chart Pack (Sep. 2025)

Gold continues to shine, all eyes on OPEC+ There have been several factors supporting gold prices to a record high above $3,500 per ounce, including greater expectations of Fed rate cuts and investor...

4th September 2025 · 1 min read

Commodities Update

Are data centres driving up US electricity prices?

Electricity prices in the US have been hitting the headlines, with some laying the blame at the feet of the AI rollout and data centre construction. This Update answers key questions on what is...

3rd September 2025 · 4 mins read

Capital Daily

Equities and industrial commodities may continue to diverge

Global equities and industrial commodities have been dancing to different tunes in recent years. We suspect that will remain the case through next year.

1st September 2025 · 4 mins read

Commodities Weekly

Trump tariffs targeting Russian oil yet to shock the oil market

The oil market shrugged off the introduction of US "secondary" tariffs on India this week and we expect this to continue to have little impact as long as India continues to purchase Russian oil and...

29th August 2025 · 4 mins read

Middle East & North Africa Chart Pack

Middle East & North Africa Chart Pack (Aug. ’25)

Our Middle East & North Africa Chart Pack has been updated with the latest data and our analysis of recent developments. Oil prices have fallen back in the wake of the Israel-Iran ceasefire and, with...

22nd August 2025 · 1 min read

Commodities Weekly

Commodities Weekly: EU gas to shake off the summer lull; Jackson Hole and gold

Although news on the likelihood of a Russia-Ukraine peace deal has influenced EU natural gas prices this week, we still think there are more important factors that will eventually drive prices lower...

22nd August 2025 · 4 mins read

Commodities Weekly

Commodities Weekly: Spotlight on petrochems; Trump-Putin energy implications

Calls to limit plastic production as part of the recently-collapsed UN treaty talks were always likely to run into a wall of opposition given the importance of petrochemical feedstocks as a source of...

15th August 2025 · 4 mins read

Europe Economics Weekly

Europe Weekly: Trump-Putin and the euro-zone economy

We do not expect President Trump’s meeting with President Putin to make a breakthrough on the Ukraine conflict. But even if there is a "deal" in the coming months the implications for the wider...

15th August 2025 · 7 mins read

Commodities Update

Weak Chinese LNG imports to loosen overall market

Weak Chinese LNG demand has been a striking feature of the LNG market in 2025, and we suspect demand will remain soft into next year. Given China is the world’s largest buyer of LNG, weaker Chinese...

11th August 2025 · 3 mins read

Africa Economics Weekly

Africa Weekly: Zambia IMF money, Lower West African cocoa harvests

Zambia secured another disbursement from the IMF this week and, given severe fiscal strains, it seems most likely that policymakers will seek a successor programme when the current one ends in October...

8th August 2025 · 5 mins read