Our Middle East & Africa Quarterly provides a comprehensive analysis of the region, examining key topics in depth and providing a detailed guide to regional supply, demand, trade flows and downstream capacity across the Middle East & Africa. Each quarter, focus pieces delve into key issues that will impact the market in the near and medium term.
In this edition:
- In Focus - African spec changes: Sub-Saharan African fuel specification changes have been thrust into the limelight this year but, after much confusion, Nigeria looks set to shun low sulphur gasoline imports for the time being.
- In Focus - MARPOL: Last year’s IMO decision to slash the maximum sulphur content in global marine fuels from 2020 will inevitably create winners and losers, including within the Middle East. Nevertheless, the region has less to fear than other parts of the world due to rising fuel oil use in power generation.
- Macroeconomic outlook: Low oil prices are raising concerns about the financial stability of many OPEC countries and secretive Angola looks particularly exposed. Looming political and regulatory changes are compounding investor nervousness.
- Outlook for oil products: The low oil price environment has failed to hold back Iranian oil product demand growth—or local refinery investment. The country is set to become self-sufficient in gasoline this year.
- Outlook for crude: OPEC’s inability to understand current market dynamics, especially the light crude oversupply, has resulted in the market testing the price at which shale producers shut in.
The Middle East & Africa Quarterly also provides a unique and comprehensive overview of key regional data, focusing on: demand, refining, supply, trade flows and prices, including domestic consumption by country and by oil product for key Middle Eastern and African countries; refining capacity and upcoming projects by country, and refined products output; and crude output by country, with a detailed focus on the largest regional oil sector. We now also publish detailed analysis on Sub-Saharan African markets, given their growing importance in determining global product flows.