Oil

The oil service, led by Amrita Sen, covers global crude and product markets. Energy Aspects publishes a comprehensive range of publications spanning data analysis, market fundamentals and geopolitical comment. Our team of experienced analysts provide the information and insight you need to stay ahead of the oil and oil products markets

  • UK oil data – July 2012

    UK oil data – July 2012 cover image Published 27 Sep 2012 by
    UK liquids production continued a decade and a half long fall, with output in August dropping below 1 mb/d once again. At 0.99 mb/d, total production was lower y/y by 32 thousand b/d, with crude output virtually flat y/y. While on the face of it, the data seems to suggest that the steep declines..

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  • US Department of Energy

    US Department of Energy cover image Published 26 Sep 2012 by
    Crude oil inventories have reversed their two week long increase, and in line with our view, have started to stabilise following the two large builds created by the bunching up off imports in the Gulf Coast during Hurricane Isaac. Following this week's counter-seasonal draw of 2.4 mb, crude oil i..

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  • Iran: checkmate or stalemate

    Iran: checkmate or stalemate cover image Published 26 Sep 2012 by
    The tense confrontation continues between Iran and Western Powers over the Iranian refusal to comply with UN Security Council resolutions and cease uranium enrichment. In response, US and EU economic sanctions implemented from 1 July have targeted Iranian oil exports. Statements and actions on al..

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  • India oil data – August 2012

    India oil data – August 2012 cover image Published 25 Sep 2012 by
    ​Indian oil demand continued on its strong growth path in August, rising y/y by 219 thousand b/d (7.8%) to 3.029 mb/d. In the year-to-date, Indian oil demand is running higher y/y by a solid 167 thousand b/d (5.6%) and is the second strongest source of growth in the world, lagging only Japan. The..

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  • Mexico oil data - August 2012

    Mexico oil data - August 2012 cover image Published 25 Sep 2012 by
    Mexican oil production climbed to its highest level since September 2011, totaling 2.932 mb/d in August. This was exactly at the same levels as last year, reducing the year-to-August decline to just 35 thousand b/d. Ageing oilfields and a lack of investment in exploration have crippled Mexico's..

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  • South Korea oil data - August 2012

    South Korea oil data - August 2012 cover image Published 24 Sep 2012 by
    Following the near 3% y/y increase in July, South Korean oil demand increased by just 7 thousand b/d (0.3%) y/y in August to 2.2 mb/d. In Q3-to-date, South Korean oil demand is running higher y/y by 37 thousand b/d (1.7%), a marked slowdown compared to Q2, when y/y demand increased by a solid 191..

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  • What's capping the oil upside?

    What's capping the oil upside? cover image Published 23 Sep 2012 by
    A volatile week for oil was marked by the market giving back the gains made on the back of QE the week before, as potential rumours about an SPR release, weak macro and demand data and yet another indication by key oil producers of their intent at controlling the upside to oil prices emerged. Sau..

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  • Canada oil data – July 2012

    Canada oil data – July 2012 cover image Published 21 Sep 2012 by
    Total Canadian production levels (based on preliminary data) recovered to 3.899 mb/d in July, higher y/y by 282 thousand barrels. Oil sands production continued its upward trend, reaching 1.83 mb/d which equates to 47% of total Canadian output. Despite reviving m/m as upgraders returned from main..

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  • China

    China cover image Published 20 Sep 2012 by
    With economists across Wall Street having downgraded their China outlook to stabilisation rather than a recovery, the weakness in the August data is no real surprise. Both the NBS and HSBC August PMIs declined counter-seasonally, while the increase in industrial production of 8.9% y/y (consensus:..

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  • Middle East oil demand – July 2012

    Middle East oil demand – July 2012 cover image Published 19 Sep 2012 by
    Oil demand in the Middle East continued to grow strongly in July, although data for the month is patchy (with only Saudi Arabia and Qatar confirming their submissions in the latest JODI data). Saudi Arabian oil demand reached a record high of 2.504 mb/d in July. However, given the already high ba..

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  • Europe oil data – July 2012

    Europe oil data – July 2012 cover image Published 19 Sep 2012 by
    European oil demand continued to decline in July, with the latest preliminary data from JODI pegging total consumption at 13.977 mb/d, down y/y by 533 thousand b/d (3.7%), the 11th consecutive y/y decline. In the year-to-date, European oil demand is running lower y/y by 493 thousand b/d, followin..

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  • Brazil oil data - July 2012

    Brazil oil data - July 2012 cover image Published 19 Sep 2012 by
    Brazil's disappointing performance in liquids production continued, with July's output totalling 2.116 mb/d, the second lowest for the year. This constituted a y/y decline of 46 thousand b/d, following a y/y decline of 101 thousand b/d in June. Crude oil output remained weak, and at 2.023 mb/d, i..

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  • US Department of Energy

    US Department of Energy cover image Published 18 Sep 2012 by
    There are two main features of the latest US weekly data that stand out. First, and in line with our expectations, the truncated imports from the Gulf Coast due to Hurricane Isaac continue to work their way through the data. Crude oil imports surged by 1.28 mb/d w/w bringing the cumulative increa..

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  • OPEC oil data – August 2012

    OPEC oil data – August 2012 cover image Published 17 Sep 2012 by
    OPEC oil production continued to rise in August, despite the decline in Iranian production. The average of third party estimates that Energy Aspects collects pegs OPEC-12 output at 31.58 mb/d, higher m/m by 0.18 mb/d and y/y by 1.62 mb/d, despite Iranian production dropping by another 0.1 mb/d ov..

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  • Better Baghdad-KRG relations?

    Better Baghdad-KRG relations? cover image Published 15 Sep 2012 by
    ​An agreement between Baghdad and the Kurdistan Regional Government (KRG), announced 13 September 2012, should result in crude production in the region remaining at 140 thousand b/d this month and rising to 200 thousand b/d for the rest of the year. While the agreement is a step in the right dire..

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