Energy Data Response US Weekly Petroleum Status Report US crude oil stocks fell sharply at end-November for the most part owing to a jump in US exports, which could be sustained given that crude prices in the US are still markedly lower than elsewhere. 6th December 2018 · 1 min read
Precious Metals Update Palladium’s golden days may not return The price of palladium rose above that of gold earlier this week for the first time since 2002, but gold has returned to a premium today and we think this premium will grow as the palladium price... 6th December 2018 · 1 min read
Middle East & North Africa Economics Weekly OPEC meets, Egypt’s exchange rate policy OPEC’s biannual meeting kicked off today and all the signs are that the cartel will agree to an output cut by the time the meeting concludes tomorrow. Meanwhile, the Egyptian authorities have taken... 6th December 2018 · 1 min read
Latin America Economics Update Mexico: is energy reform now dead? The decision by Andrés Manuel López Obrador (Amlo) to seemingly postpone Mexico’s deep water oil auctions for three years is unlikely to have a major bearing on oil production in the near term. But it... 5th December 2018 · 1 min read
Metals Chart Pack Slowing Chinese growth does not bode well for prices Steel and iron ore prices fell precipitously in November, as the reality of slowing Chinese demand growth finally filtered through into softer prices. We think that global demand will continue to... 5th December 2018 · 1 min read
OPEC Watch What to expect from the OPEC meeting We expect OPEC and its allies to agree to cut oil output at this week’s OPEC meeting. This should at least put a floor under prices and may, depending on the size of the cut, boost prices. But with... 5th December 2018 · 1 min read
Canada Economics Update GDP growth heading toward zero in first quarter The combined effect of Alberta’s forced oil production cuts and the slump in oil prices on activity in the sector are set to push Canadian GDP growth down to around 0.5% annualised in the first... 4th December 2018 · 1 min read
Commodities Chart Pack Demand concerns to the fore We continue to expect that slower economic growth in two of the largest consuming economies – the US and China – will weigh on commodity prices in 2019, even if China and the US manage to reach an... 3rd December 2018 · 1 min read
Middle East & North Africa Economics Update Qatar leaving OPEC not a game changer Qatar’s decision to pull out of the oil cartel, OPEC, is unlikely to have a major impact on global energy markets but it further cements the country’s feud with Saudi Arabia and its allies. The... 3rd December 2018 · 1 min read
Commodities Update Little to cheer in China’s PMIs China’s November survey data point to persistent weakness in economic activity, which will continue to be a factor weighing on the prices of commodities, particularly industrial metals. 3rd December 2018 · 1 min read
Commodities Update Trump-Xi truce provides some relief for commodities Mounting US protectionism, particularly towards China, has been a key factor weighing on commodity prices for much of this year. As such, news that China and the US are to resume talks provides some... 3rd December 2018 · 1 min read
Commodities Weekly The calm before the storm For the most part, commodity prices moved in a narrow range this week, but this relative stability may come to an abrupt end soon. Presidents Trump and Xi are set to dine together on Saturday at the... 30th November 2018 · 1 min read
Emerging Europe Economics Weekly Oil lower, Russia’s response, Polish rates Lower oil prices will benefit most countries in Emerging Europe and, for the major loser, Russia, oil at $60pb is manageable – although we do think that it will agree with Saudi Arabia to cut oil... 30th November 2018 · 1 min read
Africa Economics Weekly Cheaper oil both giveth and taketh away Lower oil prices will batter Africa’s big oil exporters. But they will benefit Africa’s oil importers, which make up the majority of the region’s GDP. Lower petrol prices will, for instance, sap... 30th November 2018 · 1 min read
Africa Chart Pack Africa: Oil prices batter key economies The recent sharp fall in oil prices will add to headwinds facing the economies of Nigeria and Angola. We estimate that both country’s export revenues will have fallen by about a US$1bn over the past... 29th November 2018 · 1 min read
Industrial Metals Update Tin demand battling to soldier on Despite dropping to a multi-year low recently, we think that tin prices will fall further over the next year as Chinese demand falters. However, this should mark a turning point for the tin price, not... 29th November 2018 · 1 min read
