Rhidoy Rashid is an analyst at Energy Aspects. After completing his undergraduate degree in Economics and Politics at Leeds University, he went on to complete a Masters in Legal and Political Theory at University College London. He developed an interest in energy commodity markets following his internship with Energy Aspects in 2013.
Norwegian liquids production fell m/m by 82 thousand b/d to 1.94 mb/d in February, lower y/y by 63 thousand b/d and weaker than our estimates. Underlying base declines, which have averaged 9% since July 2017, were the likely driver, pushing output lower y/y in seven of the past eight months. The..
European oil demand was marginally lower y/y, by 13 thousand b/d, at 14.63 mb/d in January, the first decline since April 2017 when a late Easter reduced industrial activity. The declines were unsurprisingly driven by heating fuels, with diesel lower by 14 thousand b/d y/y and fuel oil by 48 thou..
Oil demand in the 10 top-consuming Middle Eastern countries (ex-bunkering) was lower y/y by 43 thousand b/d at 6.09 mb/d in January. Saudi Arabian oil demand grew y/y by 0.10 mb/d to 2.06 mb/d, due to higher-than-expected power generation requirements. Crude burn gained for the first time in five..
Atlantic basin cracks and spreads could remain under pressure until the summer despite heavy European turnarounds. Underlying demand trends are still intact—but it will take longer to work off the overhang that has built up than we had initially expected because supply is higher in some places.Wa..
This week and last the key agency forecasts have been published. EIA published STEO on 6 March, OPEC published MOMR yesterday and the IEA published OMR this morning.Despite some worries surrounding the global economy, the key agencies mostly revised global demand growth estimates for 2018 higher,..