Saudi Arabia

OPEC 2.0’s decision to cut 2mm b/d of output beginning in December telescopes the loss of Russian volumes we expect over the course of the coming year. OPEC 2.0 clearly is not playing by the G7’s or the US’s rules. This will keep prices volatile.

Executive Summary Iran Reaches Nuclear Breakout Biden And Putin Court The Middle East…

Executive Summary Further GDP Weakness Would Push Brent Lower Further GDP Weakness Would Push Brent Lower…

Listen to a short summary of this report.     Executive Summary Higher Real Yields Have Weighed On Equity Valuations Higher Real Yields Have Weighed On Equity Valuations…

Executive Summary Brent Stable As Demand + Supply Fall Brent Stable As Demand + Supply Fall…

Executive Summary Higher Prices Expected Higher Prices Expected…

Executive Summary Risk Premium Abates, But Does Not Disappear Oil Risk Premium Abates, But Still Remains…

Executive Summary Oil-Price Risk Skewed Upward Scenarios For Oil Prices…

Highlights The Kingdom of Saudi Arabia (KSA), Iraq, the UAE and Kuwait – the OPEC 2.0 states capable of increasing production this year – will have to step up for coalition members unable to lift output, including Russia. US shale-oil output also will have to increase to cover demand. The…

HighlightsThe power shortage in China due to depleted coal inventories and low hydro availability will push copper and aluminum inventories lower, as refineries there – which account for roughly one-half of global capacity – are shut to conserve power (Chart of the Week).Given the critical role…