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OPEC Monthly Oil Report due Today

ENERGY

ENERGY – What to watch

  • OPEC and IEA are both releasing their latest monthly oil report this week with OPEC due today at 13:00 BST. The report from OPEC will detail their view of the current market with such high uncertainty existing over both the limited global supply and oil demand with may developed economies struggling with high inflation.
  • The IEA report will publish its first assessment of the 2023 oil supply and demand balance on Wednesday.
  • The latest weekly API oil inventory data is due for release after the close today at 16:30 EST ahead of the EIA data tomorrow. The current expectation is that crude and product stocks will show small draws this week which would do nothing to help with tight crude and especially refined oil product markets.

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