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New Opportunities 2021: Some optimism for oil markets
The average price of oil in 2020 was around $42 per barrel – only slightly less than in 2016, when Brent crude dropped to $43.64 (source: macpixxel for GIS)
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Oil market outlook: Sailing in the dark
With forecasts for oil demand and supply highly discouraging, Saudi Arabia enforces strict production caps compliance among OPEC members, warns financial markets “speculators” against betting on falling prices and hints at the possibility of further output cuts. However, U.S. shale producers may interfere with the organization’s strategy once again.
Oil market outlook: Land in sight but rough seas ahead
In early November, several pharmaceutical companies announced that their Covid-19 vaccine trials had yielded promising results. Markets immediately began to recover, but many experts warned against declaring an early end to the pandemic, especially for oil producers. While global recovery and oil prices have moved in tandem during previous months, ...
Oil market outlook: Striking a delicate balance
After a period of stagnation, oil markets have begun to recover and prices are rising again. This development is mostly due to production cuts by the OPEC+ group. However, oil demand is not expected to reach pre-Covid levels before 2022, and the transport sector, which will play a determining role, ...
New Opportunities 2021: Cautious optimism in the Middle East
As 2021 begins, there is room for hope in the Middle East: economies look set to rebound and the ongoing normalization process between Arab states and Israel holds the potential to usher in a new era of peace. Yet there are plenty of actors who would benefit from further chaos ...
