Oil market

In-depth reports on key Oil market.

  • Search by

  • icon pdf
    Wed, 03 October 2018

    Quarterly Oil Market Update – Q3 2018: (Supply factors weigh heavily on oil)

    Brent 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.

    Download pdf
  • icon pdf
    Thu, 19 July 2018

    Quarterly Oil Market Update – Q2 2018: (Trade tensions pose downside risk for oil)

    Brent oil prices averaged $75 per barrel (pb) in Q2 2018, up a sizable 12 percent quarter-on-quarter. Concerns over OPEC output, in light of declines from certain countries, and anticipation over Iranian sanctions lifted Brent oil prices to $81 pb at one point in the second quarter.

    Download pdf
  • icon pdf
    Sun, 15 April 2018

    Quarterly Oil Market Update – Q1 2018: (Volatility is back)

    Rising optimism around global economic growth, continued OPEC compliance to output targets and rising geopolitical tensions all contributed to pushing Brent oil prices to an average of $67 per barrel (pb) in Q1 2018, up 8 percent quarter-on-quarter.

    Download pdf
  • icon pdf
    Tue, 20 March 2018

    Outlook on Crude Oil Refining in Saudi Arabia


    Whilst the Vision 2030 stresses diversifying the Saudi economy away from oil, this does not mean oil production or oil-related industries are going to be neglected in any way. Accordingly, a number of key steps are planned to be taken to ensure that crude oil refining remains an essential, albeit less prominent, pillar of the Saudi economy.

    Download pdf
  • icon pdf
    Wed, 14 February 2018

    Quarterly Oil Market Update – Q4 2017: (Downward Pressure on Oil Prices)

    A 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.

    Download pdf
  • icon pdf
    Sun, 12 November 2017

    Quarterly Oil Market Update - Q3 2017: (OPEC's big decision)

    In 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. 

    Download pdf
  • icon pdf
    Sun, 10 September 2017

    Shale Oil 2.0

    The recently observed uptick in oil prices has given many US shale oil producers the opportunity to expand production. Latest forecasts from the Energy Information Administration (EIA) see US oil production rising by 10 percent year-on-year in 2017, and 3.3 percent in 2018. Nevertheless, shale oil exploration and production (E&P) companies face a number of potential ‘bumps in road’ that could hinder their progress and recovery in the near-to-medium term. Besides higher borrowing costs, shale oil producers also face the possibility of constrained capacity leading to inflated operating costs. One area where costs are likely to rise is related to oilfield services, which includes the cost of rigs, equipment and personnel.  

    Download pdf
  • icon pdf
    Tue, 25 July 2017

    Quarterly oil market update- Q2 2017: (OPEC Discipline Waning?)

    Oil prices declined by 8 percent quarter-on-quarter in Q2 2017, the first such decline since Q1 2016. Higher OPEC oil production, mainly from Nigeria and Libya, plus continued rises in US oil production, were the primary triggers for the slump in prices. Going forward, doubts remain over OPEC’s ability to, firstly, maintain discipline amongst members and, secondly, prevent sizable increases in supply from Libya and Nigeria. In addition, as the recovery in US oil production continues, with US shale oil supply expected to achieve an all-time record high in the next few months, the risk to oil prices remains firmly skewed to the downside.

    Download pdf
  • icon pdf
    Tue, 18 April 2017

    Quarterly Oil Market Update: (Volatility Returns to Oil Markets)

    Oil prices rose 10 percent quarter-on-quarter in Q1 2017, but volatility levels were up too, especially towards the end of the quarter.  Although both OPEC and non-OPEC cuts are contributing to a reduction in global oil balances, global commercial oil inventories nevertheless remain high. Demand is expected to pick up in H2 2017.

    Download pdf
  • icon pdf
    Tue, 21 February 2017

    Petrochemicals and the Vision 2030

    The Saudi petrochemical industry is vital to the Kingdom’s non-oil economy with chemical and plastic exports comprising a substantial 60 percent share of total non-oil exports. As a result, the sector has been identified by both the National Transformation Program (NTP) 2020 and Vision 2030 to help lead the push away from fossil fuel reliance. But this restructuring of the sector comes at a time when it is already facing up to a number of challenges, both at home and abroad. Besides seeing a drop in global chemical prices in the last two years, the sector has also seen domestic feedstock prices being raised in 2016, with further rises expected in 2020. In addition, global competition is set to intensify, especially from the US and China, where significant rises in petrochemical capacity are expected in the next few years.

    Download pdf