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.
Quarterly Oil Market Update – Q3 2018: (Supply factors weigh heavily on oil)
Oil market reportBrent oil prices are trading above $80 per barrel (pb), the highest level since early November 2014, on the back of concerns over oil supply. Provisional OPEC secondary sources data for Q3 2018 shows that Iranian oil output declined by nearly 250 thousand barrels per day (tbpd) quarter-on-quarter.
Quarterly Oil Market Update - Q3 2017: (OPEC's big decision)
Oil market reportIn its latest monthly oil report, OPEC has raised global oil demand forecasts for the third consecutive month, underlining the bullish tone towards oil prices in recent months. These revisions combined with geopolitical developments in Iraq helped push Brent oil prices up 6 percent quarter-on-quarter in Q3 2017, to an average of $52 per barrel (pb). More recently, rising expectations related to OPEC rolling over cuts in an upcoming meeting and regional geopolitical tensions have pushed Brent crude oil prices back above $60 pb. Prices are likely to remain elevated in the near term due to continued regional geopolitical tensions.
