at the start of July I spoke to CNBC Asia about the oil, products and natural gas balances. While there are starting to be some signs of demand destruction, especially in the US where gasoline demand is softening compared to 2021, demand is still near historic highs. Moreover other issues including how to manage the… Continue reading Energy: signs of demand destruction? Do they outstrip supply risks?
Category: Oil Producers
Scoring sanctions on Russia
In late June 2022, NPR asked me to do a new way of assessing sanctions effectiveness - scoring them. Rather than focused on intensity of impact (on Russian economic or financial markets), effectiveness needs to also consider change in policy or change in capacity not just economic strain. This is also difficult given the fact… Continue reading Scoring sanctions on Russia
OPEC: Putting off Tough Decisions for the Future
In its meeting June 2, OPEC+ agreed to speed up its production hikes, pledging to add 648 thousand barrels a day in July and August, about 200K more than it had signalled previously. This move was mildly positive politically, helping to paper over fraught US-GCC relations, and may be a precondition for a set of… Continue reading OPEC: Putting off Tough Decisions for the Future
An Update on Gulf Sovereign Wealth Funds
On October 14, I was pleased to join the Arab Gulf States Institute in Washington and Abana for a panel on Gulf Sovereign Funds. While sovereign funds have been key actors in the region for decades, their role takes on even more importance as Gulf countries navigate towards economic and energy transition and seek to… Continue reading An Update on Gulf Sovereign Wealth Funds
Iran’s Economy, Sanctions and key Scenarios
On October 7, I was pleased to join the Middle East Institute and Amwaj Media for a discussion about Iran's economy under sanctions and the trend ahead. The discussion coincided with stalled nuclear talks, as maximum pressure sanctions remain mostly in effect, Iran has built up additional nuclear capabilities. Read on or watch the video… Continue reading Iran’s Economy, Sanctions and key Scenarios
OPEC+: Cohesion harder, as fundamentals tighten
In early July 2021, OPEC+ faced several public challenges to its medium-term supply outlook as it looked to extend its production agreement and allow for a long awaited increase in oil production. On the July 1 meeting the UAE blocked agreement of the near-term agreement (production increases through year end and commitment to current levels… Continue reading OPEC+: Cohesion harder, as fundamentals tighten
OPEC Standoff: Resetting market share
This piece first appeared on the Low Insitute's Interpreter in early July 2021 and concerns the divides between oil exporting nations which are being amplified by the energy transition and uneven recovery. The 1 July OPEC meeting ended in deadlock. Although all the major oil producers agreed in principle to collectively boost production by 400,000… Continue reading OPEC Standoff: Resetting market share
Covidnomics, Policy Response and Coercive Policies
covidnomicsoctDownload A recent presentation on some of the global economic risks, including fiscal drag, another round of lockdowns and some potential policy shifts in the U.S. and whether China will be a major source of demand/credit. Covid-19 has reinforced existing economic and geopolitical frictions, pressured fractured supply chains, dampened migration, amplified investment and export restrictions… Continue reading Covidnomics, Policy Response and Coercive Policies
Global Update: June 2020
This post is adapted from some of my June 2020 presentations on the global outlook, the impact of Covid19 and some US election related policy risks. EM are facing some of the same challenges as DM – major demand shock at home and abroad due to lockdowns, with consumption lagging than production. Many struggle due… Continue reading Global Update: June 2020
Economic Challenges of Covid19: Deepening Recessions
COVID19 and its policy response has been damaging to global growth and a sharp global recession is now the base case. Most major economies are likely to experience sharp recessions as economic activity is shut down to avoid over-taxing the health care system. Globally this suggests rolling recessions, albeit very close on their heels beginning… Continue reading Economic Challenges of Covid19: Deepening Recessions
Ziemba Insights 