Entries by Jackie Forrest

Commentary – Stop Watching OPEC, Start Watching Oil Demand

Curiously, the price of oil took a beating following last Thursday’s announcement that OPEC and Russia would extend their production cuts for another nine months. For what was a seemingly positive declaration, the oil markets were looking for more conviction. Despite a 1.8 MMB/d drop in production from OPEC and Russia since the end of 2016 (see Figure 1), crude oil and product storage tanks in OECD countries have not yet retreated […]