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 – Q4 2018: (Oil price roller coaster)
Oil Market ReportLower OPEC output and hopes of some progress over the US-China trade dispute have helped Brent prices recover to around $60 pb recently, although the outlook on oil demand remains subdued. According to latest OPEC forecasts, global oil demand will grow by 1.29 million barrels per day (mbpd) in 2019, the lowest rate of growth since 2013.
Quarterly Oil Market Update – Q4 2017: (Downward Pressure on Oil Prices)
Oil Market ReportA brighter outlook for the global economy and tighter oil markets had seen Brent oil prices rise 18 percent quarter-on-quarter in Q4 2017, to $62 per barrel (pb), with prices continue to rally to $70 pb in January 2018, the highest level since November 2014.
