Filtered by Subscriptions: Energy Use setting Energy
Global oil demand was given a boost in the second quarter of this year largely due to a stronger global economy. The latest data point to a bright outlook for oil demand over the next year as the global economy continues to expand. This should help to …
28th September 2017
A surge in exports and demand from refineries last week helped to draw down crude stocks. We expect these trends to continue which should help to narrow the Brent-WTI spread over the next few weeks. … US Weekly Petroleum Status …
27th September 2017
Last week’s increase in US crude stocks is mainly due to the lingering impact of Hurricane Harvey. Demand for petroleum products remains reasonably strong, which should help the market rebalance. … US Weekly Petroleum Status …
20th September 2017
We are revising our coal price forecast up to take account of the recent rise in prices. However, increasing supply, slowing Chinese demand and more efficient energy alternatives are all likely to weigh on the price of coal over the coming year. … Should …
19th September 2017
As we expected crude oil production rebounded last week but many refineries remained shut, swelling crude stocks and pulling down gasoline inventories. Next week’s report should show a significant fall in crude stocks as refiners return to business. … US …
13th September 2017
OPEC has recently been hinting that it may prolong its production cuts. However, some members are planning to increase output next year and compliance with the current agreement will probably have to improve before Saudi Arabia signs on. However, even if …
OPEC production fell last month, but early indicators suggest that it is likely to rebound in September. Unless output falls significantly over the next six months, stocks will remain above their five-year average. … Lower OPEC production likely to be …
12th September 2017
Refinery shutdowns due to Hurricane Harvey caused a surge in crude oil stocks but a slump in gasoline inventories last week. Stocks are likely to be exceptionally volatile over the next month. … US Weekly Petroleum Status …
7th September 2017
Hurricanes Harvey and Irma are likely to have a larger negative impact on US oil demand than on oil production over the next few months, which could delay market rebalancing. … Hurricane Harvey to depress US oil …
6th September 2017
The strength of the Chinese economy supported the prices of many energy commodities last month. Imports of oil, coal and LNG remained high and domestic consumption appeared to be strong. However, we expect China’s economic growth to slow over the next …
5th September 2017
A sharp drop in imports and jump in demand from refineries helped to drain stocks last week. But the market’s focus remains on the impact of Hurricane Harvey. … US Weekly Petroleum Status …
30th August 2017
Higher crude exports, falling stocks and the return of refineries shuttered by Hurricane Harvey should all help to boost WTI prices and narrow the Brent-WTI spread over the rest of the year. … Brent-WTI spread likely to …
29th August 2017
Another fall in US crude stocks means that inventories are now about 30 million barrels below last year’s level. Crude stocks are likely to continue to fall over the next few months as demand remains relatively robust, which should support prices. … US …
23rd August 2017
Crude oil prices have risen over the last month as demand has picked up and stocks have tumbled. However, supply, especially from Nigeria, Libya and the US has risen rapidly. This Energy Watch looks at how higher supply will affect prices over the …
The recent backwardation in the Brent futures curve will encourage traders to continue to draw down stocks over the next few months, which should support spot prices. … Brent backwardation should help to reduce oil …
17th August 2017
Persistent strength in refinery runs led to the biggest weekly decline in commercial crude oil inventories so far this year. We expect stocks to continue to fall, which should support oil prices. … US Weekly Petroleum Status …
16th August 2017
Another rise in OPEC’s production in July has not helped the group’s efforts to rebalance the oil market. However, strong demand and slower growth in non-OPEC output should still help to reduce stocks and lift prices over the rest of the year. … Rising …
10th August 2017
A weaker US dollar has given some support to oil prices over the last month. However, the inverse relationship is likely to break down again over the next year as rising US interest rates support the dollar but lower stocks give a boost to oil prices. … …
The ninth consecutive weekly fall in US commercial crude stocks provides further evidence that the market is rebalancing. We expect this trend to continue over the next few months at least, which should give a boost to prices. … US Weekly Petroleum Status …
9th August 2017
The lack of timely coal consumption data on a monthly basis – at least at a global level – makes it difficult to determine changes in coal demand in the short term. Our new Capital Economics World Coal Demand Proxy (CDP) shows that the recent jump in coal …
4th August 2017
It was generally good news for energy commodities in July. Oil prices jumped as stocks in the US slumped, the market grew concerned about the possibility of sanctions on Venezuela and the dollar fell sharply against most other major currencies. Meanwhile, …
3rd August 2017
Another increase in refinery runs led to a fall in crude oil stocks last week. We expect refinery runs to remain high in the coming weeks. This should lead to a sharp drawdown in inventories and help the market to rebalance. … US Weekly Petroleum Status …
2nd August 2017
A surge in demand for US natural gas from Mexico and Canada as well as bourgeoning shipments of LNG to Europe and Asia should give a boost to natural gas prices over the next year. … Strong export demand to support US natural gas …
27th July 2017
The fourth consecutive weekly drop in commercial crude stocks in the US provides further evidence that OPEC’s output cuts are starting to have an impact on inventory levels. We expect this trend to continue over the next few months which should help to …
26th July 2017
The oil market’s attention is firmly on rising production in the US and the outlook for stocks there. However, there are a number of risks elsewhere which are potentially being overlooked and which could cause sharp movements in prices. … Four key risks …
20th July 2017
Another large drop in crude stocks provides further evidence that the market is slowly starting to rebalance. Gasoline stocks also fell as output from refineries dropped back. … US Weekly Petroleum Status …
19th July 2017
Coal prices have been boosted recently by a series of temporary factors. However, supply is growing quickly, which is raising the risk of a sharp drop in prices once demand drops back. … Government intervention in the coal market could …
18th July 2017
US gasoline prices have been volatile so far this year but have generally followed oil prices lower. This Energy Watch examines the prospects for US gasoline demand over the rest of this year and into next. We then examine what this might mean for …
14th July 2017
Crude oil stocks plunged last week by the largest amount so far this year. Another rise in refinery runs, in tandem with a decline in net imports, contributed to stocks falling below 500 million barrels for the first time since January. … US Weekly …
13th July 2017
Another surge in production in Nigeria and Libya boosted total OPEC production last month. Looking ahead, the group expects non-OPEC supply growth to accelerate next year. … OPEC output surges …
12th July 2017
Inventories of both crude and gasoline dropped sharply last week as demand picked up and imports fell back. … US Weekly Petroleum Status …
6th July 2017
Advancements in fuel efficiency, an increasing number of electric vehicles and the introduction of automated vehicles should mean that demand for oil in developed countries peaks over the next decade. However, fast growth in demand for travel in the …
Oil prices fell for most of last month as rising production in the US and in some OPEC countries weighed on investor sentiment. However, falling US stocks and a slight dip in the number of US drilling rigs for the first time this year boosted oil prices …
4th July 2017
US shale production growth is likely to slow sharply towards the end of the year as the recent low prices cap the number of drilling rigs. What’s more, fewer efficiency gains will start to weigh on output. … Will US shale continue to flood the oil …
29th June 2017
Another rise in net imports contributed to a slight increase in crude oil inventories last week. At the same time, gasoline and distillate stocks fell in spite of weak demand for petroleum products. … US Weekly Petroleum Status …
28th June 2017
Fears about unrelenting growth in US oil production have pulled down oil prices again, despite stocks beginning to fall. However, faster demand growth combined with OPEC’s production cuts should be enough to give prices a temporary boost in the second …
22nd June 2017
Crude stocks fell again last week. However, production and net imports both rose. Meanwhile, higher demand prompted a fall in gasoline inventories. … US Weekly Petroleum Status …
21st June 2017
Global oil demand was disappointing in the first quarter of this year. Indeed, this is one reason why prices have continued to fall despite OPEC and some major non-OPEC producers extending their output cuts until March 2018. However, there are signs that …
Hotter weather and faster economic growth have led to hopes that demand for coal will rise this year. However, improvements in energy efficiency and the rapid growth in renewable power mean that coal demand probably won’t benefit by as much as it would …
15th June 2017
Crude inventories resumed their downward trend last week, but gasoline stocks increased on the back of low demand and high refinery output. … US Weekly Petroleum Status …
14th June 2017
Higher production in Nigeria and Libya boosted total OPEC production last month. However, stocks continued to fall and the group revised down its expectations for non-OPEC output this year. … OPEC output …
13th June 2017
Crude oil prices have slumped again recently, despite OPEC agreeing to extend its output cuts by nine months. This Energy Watch sets out our view on what will happen to supply and demand over the next eighteen months and what this is likely to mean for …
12th June 2017
Stocks of both crude oil and gasoline unexpectedly rose last week, driven by a rebound in crude imports and a slump in demand. … US Weekly Petroleum Status …
7th June 2017
Oil prices fell at the end of last month as OPEC disappointed markets by simply rolling over its output cuts for another nine months, rather than deepening them as well. However, this should still be enough to achieve the cartel’s aim of bringing stocks …
6th June 2017
The withdrawal of the US from the Paris Agreement on climate change will not alter our forecasts of US demand for energy commodities, since the agreement was non-binding and President Trump had no intention of implementing it anyway. However, it may …
2nd June 2017
US crude stocks fell for the eighth consecutive week as demand from refineries increased and net imports fell. Gasoline stocks were also drawn down as consumption picked up. … US Weekly Petroleum Status …
1st June 2017
Coal prices have been supported recently by strong global economic growth. However, a slowing Chinese economy, rising supply and intense competition from cheap natural gas and renewable power mean that we still expect prices to fall over the rest of the …
31st May 2017
As was widely expected, OPEC announced earlier today that it, together with Russia and some other non-OPEC producers, would be extending their output cuts by nine months, until the end of March 2018. Indeed, the meeting seems to have been relatively …
25th May 2017
Crude oil stocks declined by the second largest amount so far this year, in spite of an increase in net imports. Gasoline and distillate inventories also fell, as demand for petroleum products surged. … US Weekly Petroleum Status …
24th May 2017
Donald Trump’s budget proposal is unlikely to dramatically alter the energy and oil markets, even if Congress does not significantly temper them. … What could Trump’s budget mean for energy …
23rd May 2017
