OMS_September-2017 Oil Market Snapshot – September 2017 OPEC Deal Bears Autumn Fruit As Production Forecasts Fall

Brent has risen to c. $58/bbl in September as IEA demand forecasts increase, while geopolitical risk threatens 500,000 b/d of Iraqi supply. Our demand forecast remains u...

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OMS_August-2017 Oil Market Snapshot – August 2017 Brent Becalmed, But Market Tightening Continues

Brent remains at c. $52/bbl as falling US inventories and rig counts indicate the market is tightening, though Hurricane Harvey has shut-in US refining capacity. The IEA...

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OMS_July-2017 Oil Market Snapshot – July 2017 Don't Ecuador Hit You On The Way Out

Falling US inventories and firm words after the OPEC/non-OPEC compliance meeting help lift prices, even as Ecuador announces it will leave the agreement. Brent has ris...

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OMS_June-2017 Oil Market Snapshot – June 2017 Buy The Ticket, Take The Ride

With fear and loathing of the OPEC deal high in the market, we make the case that the deal has been a qualified success. Brent fell to c. $45/bbl in mid-June despite d...

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OMS_May-2017 Oil Market Snapshot – May 2017 The Art of The Production Deal

Oil falls as OPEC extends the production deal, but if politics is the art of the possible, is the market expecting too much? Brent broadly recovered to c. $54/bbl from...

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OMS_April-2017 Oil Market Snapshot – April 2017 Credibility Crunch

OPEC is doing better on compliance - so why is market confidence waning? Brent rallied in early April on confidence in an OPEC deal extension. However, Brent struggle...

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OMS_March-2017 Oil Market Snapshot – March 2017 Saudi Arabia Fires Warning Shot in Houston

The Kingdom adopts a "carrot and stick" approach as US production rises and inventories remain stubbornly high Brent fell in mid-March on market concerns about the OPE...

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OMS-February-2017 Oil Market Snapshot – February 2017 Home on the Range

Brent rangebound at $55/bbl as volatility evaporates, but concerns remain over swelling inventories Brent's loss of momentum has resulted in a drastic reduction in pri...

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OMS-January-2017 Oil Market Snapshot – January 2017 Brent Steady as OPEC Deal Starts Well

The industry grows upstream capex as cautious optimism returns, including in deepwater offshore Mexico Brent has held at c. $55/bbl, off slightly from its year end val...

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OMS_December-2016 Oil Market Snapshot – December 2016 O Cut Oil, Ye Faithful

OPEC delivers a Christmas present for the market, but planned projects suggest the deal will need to be extended Brent rallied strongly to $55.68/bbl (+12%/$6.71/bbl m...

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