Commodity Market Report

Macro Oils short-term outlook: market volatility, economic slowdown, OPEC cuts

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Global markets have been volatile over the past month or so. Oil has been no exception with Brent prices trading between $62 per barrel on 7 December and $51 on 21 December. Mixed macroeconomic data have driven much of the volatility, with political uncertainty compounding concerns over a sharper than expected economic slowdown. Specific to oil, the market has been focused on the demand outlook – especially in the emerging world, although prices have risen from the lows in late December as the reality of production cuts from producers such as Saudi Arabia have emerged in early January.

Table of contents

  • What if?
  • Oil supply outlook holds firm despite recent price shock
  • OPEC: steep fall in output as production cut agreement implemented
  • Risked outlook for Libya remains justified as El Sharara field is shut-in

Tables and charts

This report includes 2 images and tables including:

  • Global demand growth (kb/d)
  • OPEC Crude Oil Supply

What's included

This report contains:

  • Document

    Macro oils short term outlook January 2019 data.xlsx

    XLSX 2.47 MB

  • Document

    Macro Oils short-term outlook: market volatility, economic slowdown, OPEC cuts

    PDF 885.81 KB