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OPEC latest publications

December 4, 2019

U.S. Oil Prices Outlook. December 2019

2019 oil prices were in line with our baseline scenario. OPEC is discussing whether to extend its production quota. U.S oil production will expand further, albeit at a slower pace.

July 15, 2019

Oil Prices: Hard Times

To paraphrase Dickens: It is both the best of times and the worst of times for oil-producing countries. The outlook for OPEC is bleak. Despite production cuts, the price of Brent crude oil remains below $70 per barrel.

June 28, 2019

U.S. | Oil Prices Outlook. June 2019

OPEC+ will most likely extend the output deal through the rest of the year. Weaker economic growth to lead to slower demand for oil. Escalation of tensions between U.S. and Iran, as well as trade negotiations between China and the U.S. are the main sources of uncertainty.

April 8, 2019

U.S. | Oil Prices Outlook. April 2019

OPEC+ cuts are tightening the market and driving up prices. The deal could be extended for the entire year. Sanctions to Venezuela and Iran could tighten supply further. However, OPEC has significant spare capacity to offset upward price pressures. In 2019, U.S oil production will expand further while substantial transporta…

January 26, 2019

U.S. | Oil Prices Outlook. January 2019

OPEC+ decision to reduce output prevented prices from declining further. The expiration of import waivers of Iranian oil could have a positive effect on prices. U.S. production is expected to remain robust through the year. Demand is projected to slow down as global economic growth weakens. Prices could move between $60 and…

December 5, 2018

Market Comment | Oil prices remained steady ahead of tomorrow’s OPEC meeting

Financial markets remained cautious after yesterday's sell-off in the US. The latest comments from China announcing its optimism on reaching a trade deal with the US were not enough to offset the negative mood, along with early doubts on US economic growth. Moreover, crude oil prices remained steady with investors waiting f…

December 3, 2018

Market Comment | US-China trade truce prompted appetite for risk assets

Positive tone after the announcement of a trade tariff truce between China and the US at last weekend’s G-20 summit. Additionally, oil prices rebounded ahead of the outcome of Thursday’s OPEC meeting as cuts in oil supply could be implemented. After the tone of last week’s Powell speech, markets will remain focus on data, t…

December 3, 2018

The outlook for oil prices

It has become common to see spikes in oil prices. Since October the price of Brent crude has fallen by 30% to around US$59 per barrel, its lowest level since October last year.