Energy prices to fall from 2021’s highs

We see energy prices broadly falling this year as slower global economic growth should cool demand growth, but low stocks of many fuels mean prices will remain historically high and volatile for some time.
Edward Gardner Commodities Economist
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Energy Data Response

US Weekly Petroleum Status Report

The surge in oil demand included the first signs of a recovery in transport-related gasoline demand. Although, we doubt demand will remain this buoyant for too long as economic growth is set to slow.

26 January 2022

Energy Update

Energy prices to fall, but not by as much

Oil prices have risen sharply since the start of 2022 and natural gas and coal prices have remained high. We continue to expect energy prices to fall this year, but the latest developments on supply suggest that they will not fall by quite as much as we previously thought.

19 January 2022

OPEC Watch

OPEC Monthly Oil Market Report (Jan.)

OPEC continued to raise output by less than its target in December. However, the group is still steadily raising output, which is a key reason why we see the market moving into a surplus this year.

18 January 2022

More from Edward Gardner

Energy Update

European natural gas prices surging on supply fears

We always expected European natural gas prices to remain high over the winter because of low stocks, but heightened uncertainty about supply from Russia has caused prices to skyrocket again. Assuming supply isn’t affected, though, our expectation is that prices will fall to around €25 per MWh by end-2022.

21 December 2021

Energy Data Response

US Weekly Petroleum Status Report

Commercial crude oil stocks slumped last week as domestic demand strengthened and exports jumped. The decline in commercial stocks also came as strategic petroleum reserves fell. In the final weeks of this year, though, ramped-up SPR releases should reduce downward pressure on commercial stocks. Note: Central Bank Drop-In – The Fed, ECB and BoE are just some of the key central bank decisions expected in this packed week of meetings. Neil Shearing and a special panel of our chief economists will sift through the outcomes on Thursday, 16th December at 11:00 ET/16:00 GMT and discuss the monetary policy outlook for 2022.

15 December 2021

OPEC Watch

OPEC Monthly Oil Market Report (Dec.)

OPEC oil production increased in November, but once again by less than the group’s target. We think OPEC will continue to under-produce, but it should still account for a large share of the world’s oil production growth next year, which should drag Brent crude to about $60 per barrel by end-2022. Note: Central Bank Drop-In – The Fed, ECB and BoE are just some of the key central bank decisions expected in this packed week of meetings. Neil Shearing and a special panel of our chief economists will sift through the outcomes on Thursday, 16th December at 11:00 ET/16:00 GMT and discuss the monetary policy outlook for 2022.

13 December 2021
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