The relative stability in the oil market belies the significant shifts we are seeing in the supply data. With US production ramping up, and some other producers expected to produce more than previously forecast, the market looks oversupplied into 2018. This has led to a change in our outlook for OPEC – we now assume OPEC's current production cut agreement will be rolled over in May to support price stability through H2 2017. Into 2018, against a backdrop of slowing global demand growth, rapid growth in production volumes will inevitably put downward pressure on prices.
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US oil supply response to trigger OPEC rollover?: Global macro oils- Feb 2017 PDF - 286.78 KB 4 Pages, 0 Tables, 1 Figures
Global macro oils 2 Feb 2017 slide pack.pdf PDF - 2.36 MB
Global macro oils 2 Feb 2017 prices.xls XLS - 269.50 KB
Global macro oils 2 Feb 2017 data.xls XLS - 983.00 KB
Global macro oils 2 Feb 2017 US dollar trade weighted index.xls XLS - 1.37 MB
Global macro oils 2 Feb 2017 slide charts in excel.xlsx XLSX - 349.82 KB
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Commodity market report | Feb 2017
US oil supply response to trigger OPEC rollover?: Global macro oils- Feb 2017
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