Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Quarterly Oil Market Update – Q1 2020: (COVID-19 Induced Demand Destruction)
Oil market reportThe latest monthly oil market report from OPEC lays out a bleak outlook for oil demand growth in 2020, with an average decline of 6.9 million barrels per day (mbpd) expected over the course of the year.
Quarterly Oil Market Update – Q2 2020: (Recovery in demand beginning to take shape)
Oil market reportAccording to latest OPEC forecasts, the worst seems to be over with respect to global oil demand. Whilst H1 2020 saw an average yearly decline in oil demand by nearly 12 percent, H2 2020 is expected to see declines of around 6 percent year-on-year. Overall, oil demand is expected to decline by 9 million barrels per day mbpd (or 9 percent) year-on-year in 2020.
Quarterly Oil Market Update – Q3 2018: (Supply factors weigh heavily on oil)
Oil market reportBrent 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.
