Hamad Hussain

Hamad joined Capital Economics in July 2023 as a Climate and Commodities Economist, having previously spent a year on placement at the company as part of his undergraduate degree. He holds a degree in Economics from the University of Surrey.

Commodities Weekly

Commodities Weekly: What next for OPEC+ policy?; EU ban on Russian gas

Following the recent decision by OPEC+ to raise output more aggressively than it originally outlined, we now expect the group to unwind the remaining ~3mn bpd of voluntary output cuts at a decent clip...

9th May 2025 4 mins read

Commodities Chart Pack

Commodities Chart Pack (May 2025)

OPEC+’s announcement that it will pick up the pace of oil output increases for the second consecutive month in June helped to push oil prices to four-year lows. This represents a marked shift in...

8th May 2025 1 min read

Commodities Update

What to make of the US-Ukraine minerals deal?

This Update answers some key questions on the recently agreed US-Ukraine minerals deal. In short, estimates of Ukraine’s mineral wealth seem to be overblown. The deal may provide more US support for...

1st May 2025 5 mins read

Climate Economics Monthly

Tariffs and green tech; Canada’s “carbon tax” election

New US tariffs announced this month will raise the cost of green technologies and add to the growing list of headwinds facing the green transition under President Trump. Meanwhile, the Liberals’...

30th April 2025 5 mins read

Commodities Update

Critical mineral tug of war is not a major macro risk

This Update answers several key questions on critical minerals and the economic implications. In short, there is no quick fix to securing access to minerals given the extent of China’s advantage...

30th April 2025 6 mins read

Event

Drop-In: What next for oil prices?

7th May 2025, 1:00PM BST

We’d been warning for months about the supply risks to oil prices, so Saturday's OPEC+ decision to add 410,000 barrels per day from June wasn't surprising in that sense. Our Commodities team hosted...

Climate Economics Update

China green exports surge but tariff hit looms ahead

The surge in China’s green exports to a new record high in March could be the final strong showing for a while given the escalation in US tariffs on all Chinese imports. However, green tech exporters...

23rd April 2025 2 mins read

Climate Economics Update

Major tests for IMF climate deals in Egypt and Pakistan

The IMF’s Resilience and Sustainability Facilities with Egypt and Pakistan will incentivise policymakers to implement climate adaptation and mitigation policies. That said, both countries still need...

14th April 2025 3 mins read

Commodities Chart Pack

Commodities Chart Pack (April 2025)

Commodity prices have been on a rollercoaster ride but, on net, many prices remain lower than before “Liberation Day”. In the coming months, our base case is that the 90-day pause on tariffs will be...

10th April 2025 1 min read

Commodities Update

Gold, equity bear markets, and recessions

While gold prices have edged down since “Liberation Day”, this is not unusual during a sudden equity market selloff. In fact, gold’s track record suggests that prices are likely to rise from here...

9th April 2025 2 mins read

Commodities Weekly

Commodities Weekly: OPEC+ surprise adds fuel to oil market fire

Amidst the commodity market chaos following “Liberation Day”, the surprise OPEC+ announcement that it will raise output by more than previously planned in May worsened the sharp decline in oil prices...

4th April 2025 4 mins read

Commodities Update

Central banks buying more gold ≠ ditching the dollar

Whilst buying gold may reduce central banks’ overall exposure to the dollar, we don’t think that the surge in central bank gold demand reflects a severe loss of confidence in the greenback. Instead...

31st March 2025 4 mins read

Climate Economics Monthly

Climate Monthly: Climate policy falls down the agenda

The recent scrapping of the carbon tax in Canada shows that the political pushback against climate policy is certainly not just confined to the United States. But to paraphrase Mark Twain, rumours of...

31st March 2025 5 mins read

Commodities Outlook

Tariff uncertainty overshadows fundamental weakness

While tariffs and geopolitics complicate the near-term outlook for many commodities, the backdrop generally remains one of weak fundamentals; our end-2026 price forecasts for energy and industrial...

24th March 2025 23 mins read

Commodities Chart Pack

Commodities Chart Pack (March 2025)

Weak global demand a risk to OPEC+ plans The recent confirmation from OPEC+ that it intends to go ahead with the plans to gradually increase oil production from April has coincided with ongoing signs...

6th March 2025 1 min read

Climate Economics Outlook

Climate Economics Outlook: Technical progress outweighs political pushback

The push back against the costs of climate policy, alongside the fracturing of the global economy, risks raising the cost of the green transition and slowing progress reducing emissions this decade...

6th March 2025 15 mins read