The theme of subsea tie-backs and low-risk development will remain in place going forward, according to IHS Markit. Producers are favoring these projects to limit their exposure to oil price fluctuations. BP and Shell signaled…
Since 3Q18, our modeling of U.S oil production has focused mainly on onshore production excluding the Gulf of Mexico (GOM). We’ve relied largely on the U.S. EIA‘s estimates for GOM production, given that our own…
In 2H19, accommodative global monetary policy and fiscal stimulus will revive demand for industrial commodities, particularly in EM economies. This will be most apparent in oil markets, where our Commodity & Energy Strategy…
Oil prices will remain volatile as markets work through the lingering effects of tighter financial conditions prevailing last year, which, along with extended angst over Sino-U.S. trade tensions, slowed commodity demand growth (Chart of…
Highlights Central banks globally have turned dovish, with the Fed virtually promising to cut rates in July. But this will be an “insurance” cut, like 1995 and 1998, not the beginning of a pre-recessionary easing cycle.…
Highlights The sharp fall in the bond-to-gold ratio is an important signal to pay heed to. It might suggest that confidence in the U.S. dollar is finally waning. If correct, the sharp rally in crypto currencies over the past few…
Highlights So What? Economic stimulus will encourage key nations to pursue their self-interest – keeping geopolitical risk high. Why? The U.S. is still experiencing extraordinary strategic tensions with China and Iran…
Highlights U.S. consumption remains robust despite the recent intensification of global growth headwinds. The G-20 meeting will not result in an escalation nor a major resolution of Sino-U.S. tensions. Kicking the can down the road is…