Given its gloomy economic outlook, Iran is looking to expand ties with its neighbors in an attempt to soften the blow from the sanctions. Earlier this year president Hassan Rouhani and Iraqi prime minister Adel Abdul Mahdi signed…
Highlights Oil & Bond Yields: Global growth indicators are starting to rebound, risk assets have returned to previous cyclical highs, and oil prices remain buoyant. This is a combination that will eventually result in rising global…
The upturn we anticipated in China’s industrial output in the wake of fiscal and monetary stimulus is becoming more visible. Accommodative central banks, along with a likely resolution of the Sino – U.S. trade war, will…
Our Commodity & Energy Strategy team believes that Russia’s threat of a market-share war is a feint: A market-share war would damage the Russian economy more than the balance sheets of U.S. shale producers, particularly…
In the announcement, the Trump administration said a coalition with both Saudi Arabia and the United Arab Emirates would ensure that oil markets remain adequately supplied. This means that the current set of waivers extended to…
Highlights The political economy of oil will become even more complicated, following remarks by Russian Finance Minister Anton Siluanov over the weekend, which suggested policymakers there are considering another market-share war to…
KSA has indicated it sees a need to extend OPEC 2.0’s production-cutting deal into 2H19, when the coalition’s ministers meet in June. Of late, Khalid al-Falih, KSA’s oil minister, is indicating no further cuts…
Highlights OPEC 2.0 will meet in June to decide whether to continue its production cuts into 2H19. Once again, the leaders are sending conflicting signals – KSA is subtly indicating OPEC 2.0’s 1.2mm b/d of production cuts…
Fears over a global slowdown in energy demand have been replaced by a focus on reduced crude inventories that point to a tight market (bottom panel), aided in large part by OPEC supply cuts and reduced Iranian and Venezuelan…