Hovering close to US$55/bbl, Brent remains stable. Price has been supported by strong adherence to the OPEC and non-OPEC production cut agreement – led by Saudi and the GCC, and Russia on the non-OPEC side. Global oil supply has fallen by 1.3 million b/d since end-2016. We continue to expect signatories to extend this production cut agreement to end-2017, supporting price through this year. However, on the demand side, the engines of growth appear to have slowed or stalled. We assess whether this is temporary, or structural.
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Macro oils short term outlook March 2017 Executive Summary.pdf PDF - 277.89 KB
Macro oils short-term outlook March 2017 slide pack.pdf PDF - 2.18 MB
Macro oils short term outlook March 2017 price outlook.xls XLS - 269.50 KB
Macro oils short term outlook March 2017 supply demand.xls XLS - 1.00 MB
Macro oils short term outlook March 2017 US dollar.xls XLS - 1.44 MB
Macro oils short term outlook March 2017 slide charts.xls XLS - 588.00 KB
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Commodity market report | Mar 2017
Macro oils short-term outlook: March 2017
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