Macro Oils short-term outlook: Venezuela crisis, OPEC cuts, demand stability
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Report summary
Table of contents
- Venezuela in focus: US sanctions put squeeze on output
- Will the cutback in heavy barrels affect prices?
- Global supply: growth slows in 2019 due to sanctions and OPEC+ restraint
- OPEC: Uncertainty in Venezuela and expected production restraint drive lower outlook
- Iran: Sanctions take effect though waivers limit impact
- Libya: El Sharara continues to be shut in
- Non-OPEC supply:
- Lower 48 crude outlook
- Steady growth in global demand relies on US and India, but China and Europe play a role too
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