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What to Watch - OPEC MOMR & EIA STEO

ENERGY
  • The OPEC monthly oil report (13:00BST) and EIA short term energy outlook (17:00BST) are both released today. The reports will provide an outlook for market developments for the coming year and estimates for the fundamental supply demand balance of the oil and gas markets. They may show signs of the impact on the supply side from the Ukraine conflict on Russian exports, OPEC’s compliance with their production targets and US production levels.
  • 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. Low inventory levels continue to support prices, especially in refined product markets, with crack spreads still trading over double the start of year levels.


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