Daily Oil Fundamentals

OPEC Trimming of Forecasts Is No Great Surprise

13 Nov 2024

OPEC Trimming of Forecasts Is No Great Surprise

The oil market remains a bystander in the Trump-phoria that sweeps across investment markets elsewhere. Therefore, yesterday, the OPEC Monthly Oil Market Report was very much awaited, but its delivery held few surprises. The cartel downgraded its oil demand growth for 2024 from 1.93mbpd to 1.82mbpd and in a similar quantity, its 2025 forecast from 1.64mbpd to 1.54mbpd.

Daily Oil Fundamentals

Oil Really is a Second-Class Investment

12 Nov 2024

Oil Really is a Second-Class Investment

Those of us who bought into the idea of a tightly run US election watch, agog, as the stunning victory by the President-Elect unleashes the full 'gold rush' mania of those that pursue the Trump trade. Strangely, the idiom does not apply to the yellow stuff, Gold was a haven buy before the result, it now suffers under the roaring US Dollar.

Daily Oil Fundamentals

Trump 2.0 is Off to a Flying Start

11 Nov 2024

Trump 2.0 is Off to a Flying Start

Two of the many pivotal campaign pledges of the Republican camp that sent Donald Trump emphatically back to the White House were tax cuts, both individuals and corporate, and deregulations. As discussed below the promised lowering of taxes is likely to trigger inflationary pressure in the medium-term or at least will be a contributor but it appears that for now the planned decrease of corporate tax rates to 15% and lenient scrutiny of corporate America triggered a euphoric buying spree in US equities.