Energy Chart Pack Boost to oil from lower supply unlikely to last The price of oil continued to climb in February as the US and China inched towards a trade deal, and Saudi Arabia announced that it would cut output further. However, we still think that prices will... 6th March 2019 · 1 min read
Canada Economics Update Oil rebound won’t prevent drop in energy investment The negative outlook for oil prices, together with Canadian oil firms’ high debt levels, regulatory uncertainty and capacity constraints, suggest that energy investment will fall this year. 5th March 2019 · 1 min read
Middle East & North Africa Economics Weekly Saudi to extend output cuts, more protests in Algeria Fresh hints from Saudi Arabia that it will extend its oil production cuts into the second half of this year support our view that economic growth in the Kingdom will be weaker than most anticipate... 28th February 2019 · 1 min read
Energy Update LNG price slump is not all about the weather The plunge in the spot LNG price is in large part the result of a mild northern hemisphere winter. As such, prices may rebound if the weather normalises, but rapid growth in supply will prevent... 28th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude inventories recorded a significant draw, which was impressive considering US production continued to tick up and is now at a record-high. 27th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report The US has now cemented its position as the largest oil producer in the world. Unsurprisingly, inventories rose, despite record-high exports, denting hopes of a further oil price rally. 21st February 2019 · 1 min read
Commodities Watch The shifting nature of US-Saudi oil relations There has been much commentary in recent months on the balance of power in relations between the US and Saudi Arabia. Many of the areas of mutual interest are geopolitical in nature and we are not... 21st February 2019 · 1 min read
Energy Update Oil price rally to prove fleeting The recent surge in the oil price reflects concerns about a supply shortfall, on the back of sharply lower production in some key OPEC producers. That said, there are already signs that growth in... 20th February 2019 · 1 min read
Energy Update Hard to be positive on global oil demand Slower economic growth in the two largest oil consumers will weigh on oil demand this year and is a key reason why we expect prices to fall, despite lower supply. Admittedly, China is likely to... 19th February 2019 · 1 min read
Commodities Weekly Oil’s rally to eventually lose steam After rising strongly this week, the price of oil is likely to remain supported in the short term by clear signs of lower supply from OPEC (mainly Saudi Arabia) and the loss of Iranian and Venezuelan... 15th February 2019 · 1 min read
Canada Economics Weekly Oil by rail exports plummet, USMCA hurdles mount Alberta’s oil production cuts have successfully reduced the Canadian oil price discount compared with US benchmarks, but their success has produced some unintended negative consequences. 15th February 2019 · 1 min read
Middle East & North Africa Economics Weekly Saudi oil output cuts and expat fees, Egypt inflation Comments from Saudi Arabia’s Oil Minister that oil production will be reduced to well below its OPEC quota suggests that the authorities are focused on driving oil prices higher in order to prevent a... 14th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks recorded a hefty build, primarily reflecting a decline in refinery inputs as net imports plunged and production remained unchanged. 13th February 2019 · 1 min read
OPEC Watch OPEC Monthly Oil Market Report (Feb.) January production data showed that OPEC is more than complying with the output cuts announced in late 2018, which probably explains the relative resilience of oil prices in recent weeks. However, we... 12th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks nudged up, despite a fall in net imports and a rise in refinery activity. Although US product demand remains robust, we expect it to ease back later in 2019 as the economy starts to... 6th February 2019 · 1 min read
Energy Chart Pack Oil output cuts are working, for now The price of oil rose strongly in January and is likely to remain supported in the coming months by the OPEC+ output cuts and the risk of severe disruption to Venezuela’s production. However, we think... 4th February 2019 · 1 min read
