Energy Update Revisiting our oil market outlook Omicron will weigh on jet fuel demand in the next few months, but the wider hit to demand is still unclear. And although OPEC+ decided to push ahead with its planned oil production increases, we think... 3rd December 2021 · 4 mins read
Middle East & North Africa Economics Weekly Omicron, tourism and the oil market Low vaccine coverage and large tourism sectors mean that the non-Gulf economies are particularly vulnerable to the emergence of the Omicron variant. Meanwhile, the drop in oil prices and the... 2nd December 2021 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks fell as, despite some chunky falls in product demand, US demand is still outstripping supply. Although, the release did shows signs that crude production might finally be... 1st December 2021 · 2 mins read
Capital Daily Inflation compensation, oil prices and the Omicron variant News of the “Omicron” variant of the coronavirus may have hit both inflation compensation and oil prices recently, but we suspect the correlation between the two will be weaker over the next couple of... 29th November 2021 · 6 mins read
Commodities Update Omicron puts demand back in the spotlight We were already downbeat on the outlook for most commodity prices in 2022, not least because we thought that prices had lost touch with demand fundamentals. The risk of Omicron-related effects on... 29th November 2021 · 2 mins read
Commodities Weekly New COVID-19 variant could spark energy price falls Most commodity prices fell on Friday after South African scientists declared they had identified a new COVID-19 variant on Thursday which may be more transmissible. We think it’s still early days to... 26th November 2021 · 6 mins read
Energy Update Strategic release of reserves is too little too late The announcement of the co-ordinated release of oil reserves by the US and other large oil consumers should mean higher supply (and downward pressure on prices) but it will come at a time when we... 25th November 2021 · 2 mins read
Middle East & North Africa Economics Weekly SPR release, Turkey exposure, Egypt price adjustments The US-led release of oil reserves earlier this week did little to bring down the price of oil as President Biden would have hoped and, if anything, could provoke OPEC+ to raise oil production more... 25th November 2021 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks rose due to a pre-planned release of reserves and a large drop in exports. But the bigger picture is that product demand remains healthy, adding pressure to a tightening market. 24th November 2021 · 2 mins read
Energy Update A mild winter doesn’t change our price outlook We have left our near-term forecasts for energy prices (which are historically high) unchanged after reflecting on the latest weather forecasts for the upcoming Northern Hemisphere winter... 24th November 2021 · 3 mins read
Energy Update Taking stock of the European natural gas market European natural gas prices were in the news again last week, soaring by 18%. Given stocks are still low and there are few signs of extra flows from Russia, we think that prices will remain high in... 23rd November 2021 · 2 mins read
Commodities Weekly The energy crisis rumbles on … This week showed that the energy crisis is not in the rear-view mirror just yet. Germany’s energy regulator suspended its certification process of the Nord Stream 2 pipeline on Tuesday, owing to... 19th November 2021 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report The latest weekly data show falling crude and petroleum product inventories and a jump in implied demand. The strength in demand is somewhat surprising given the rise in gasoline prices, but we... 17th November 2021 · 2 mins read
Energy Watch China managing a coal market trilemma In this Energy Watch, we look at what recent policy changes mean for China’s coal market . The main take-away is that the changes should increase Chinese coal production and temper demand growth in... 16th November 2021 · 6 mins read
Commodities Update What will the COP26 deal mean for commodities? Although the climate deal struck at COP26 appears to have fallen short on many counts, it does at least reaffirm our view that demand for traditional energy commodities will struggle in the long run. 16th November 2021 · 3 mins read
Commodities Weekly OPEC+ unlikely to ride to the rescue anytime soon Despite falling short of its targeted increase in output once again in October, we think OPEC+ will continue to snub calls to raise output more rapidly. The week began with comments from the Biden... 12th November 2021 · 6 mins read
