Transforming The Gulf’s Political Economy
The Gulf’s political economy – particularly that of KSA – drives the supply side of oil-price discovery. This has been evolving since 2017, when OPEC 2.0 was formed. It is now fundamental to the market. We expect Brent to average $95/bbl this year, unchanged from last month, and $115/bbl (up $5/bbl vs. last month). WTI will trade $4-$6/bbl below Brent over the forecast interval. We remain long the XOP and COMT ETFs.
Interested in reading this report?
To access the full BCA Research report, request a complimentary copy
BCA Research | Commodity & Energy Strategy
Top-down global-macro framework with bottom-up fundamental analysis of major commodities.
Stay Connected with BCA
Get our latest events and research insights delivered to your inbox.