Daily Oil Fundamentals

Forecasts Remain Tolerable but Not So the US Dollar

14 Nov 2024

Forecasts Remain Tolerable but Not So the US Dollar

We await the IEA report today, but thus far the EIA Short Term Energy Outlook (STEO) have shown accord in how China's oil demand continues to shrink. Indeed, the EIA now forecasts India to be the major source of oil demand in 2024 and 2025, accounting for 25% of total oil consumption growth globally. Next year might be a year of India, instead of China watching.

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.