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Insights

Economic updates

Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.

Oil Market Update – Q1 2021: (Small bump on the road to recovery)

Oil market report

The recovery in global oil demand reversed course during the first quarter of 2021, with OPEC’s monthly oil market report showing declines of 780 thousand barrels per day (tbpd) or -0.8 percent quarter-on-quarter in Q1. Looking ahead, according to OPEC forecasts, oil demand will resume rising on a quarterly basis during the rest of the year, but still end up 3.5 percent lower than pre-Covid-19 levels by the end of 2021.

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Oil Market Update – Q4 2021: (Rising geopolitical risks)

Oil market report

Global oil demand grew by a healthy 6 percent year-on-year, or 5.6 million barrels per day (mbpd) last year, to an average of 96.6 mbpd. Looking ahead, whilst near-term Omicron related risks remain, so far, the response from governments around the world to surging cases have not been as severe as previous variants. Overall in full year 2022, oil demand is expected to rise by 4 percent year-on-year, to an all time high of 100.8 mbpd.

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Quarterly Oil Market Update – Q4 2020: (The only way is up?)

Oil market report

The recovery in global oil demand continued through the last three months of 2020, with OPEC reporting rises of 3 percent quarter-on-quarter in Q4 2020. Looking ahead, oil demand will continue rising in Q1 and during the rest of the year on a quarterly basis, but still end up 3 percent lower than pre-COVID-19 levels by the end of 2021.

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Saudi Chartbook – March 2022

Monthly chartbook

Saudi Chartbook – March 2022

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Saudi Chartbook – February 2022

Monthly chartbook

Saudi Chartbook – February 2022

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