BCA Research's Commodity & Energy Strategy service concludes that OPEC 2.0 will be the oil market’s driving force over the coming years, as long as it can maintain its discipline. COVID-19 caused immense demand…
Highlights If it can maintain production discipline over the next 2-3 years, OPEC 2.0 will be the oil market’s most important determinant of price levels for years. The massive increase in OPEC 2.0 spare capacity resulting from…
Highlights Oil-price volatility will remain subdued as markets correctly downgrade measurable risks on the supply side and upgrade financial conditions supporting demand (Chart of the Week). OPEC 2.0’s spare capacity – ~…
Highlights The leading providers of fundamental oil data differ sharply in their estimates of demand destruction caused by the COVID-19 pandemic. This will keep uncertainty over the trajectory of prices elevated this year. Our…
The trajectory for global oil prices remains highly uncertain due to the COVID-19 pandemic, particularly in light of continuing disagreements over the state of global demand. Our Commodity & Energy strategists continue to…
Highlights ‘Value’ sector profits are in terminal decline. Bank profits are in terminal decline, because private sector credit is now ‘maxed out’, and the intermediation between borrowers and savers can be done…
Close to 60% of US offshore oil production and 45% of natural gas production is shut down as Hurricane Marco and Tropical Storm Laura threaten the Gulf of Mexico. This amounts to some 620,000 b/d of oil output – close to 10…
BCA Research's Commodity & Energy Strategy & Geopolitical Strategy services conclude that global natural gas markets have limited upside but suffer significant downside risk. The comeback of US Liquefied Natural…