Weekly economic update

The conflict between Israel and Iran has intensified, impacting gas supplies as Chevron shuts down production at the Leviathan field due to security risks. While oil supplies remain unaffected, the market is reacting with volatility, and OPEC+ may adjust its plans in response to these developments. Please note: this podcast…

Brent crude oil prices have strengthened at the end of last week, despite discussions of potential production hikes from OPEC+. Factors such as limited cuts to Saudi selling prices and ongoing overproduction by several members are supporting prices, while the market remains in its current range, with the possibility of…

OPEC+ has agreed to increase production, setting July's output at 410 kb/d above June and 822 kb/d above the original target. Despite these increases, oil prices rose, likely due to geopolitical tensions, including strikes on Russian airfields that may affect production. Please note: this podcast is provided for information purposes…

Oil prices remained stable last week despite significant news, with Brent holding around $65/b amid OPEC+ discussions and Trump's comments on EU trade. Bearish factors may lead to further declines if trade talks falter. Meanwhile, gas and power prices in Europe have risen due to maintenance outages in Norway, pushing…

Recent developments on a potential Iran nuclear deal have impacted the oil market, with Brent hovering around $65/b. The IEA's report shows upward revisions in oil demand for 2024-2026, but concerns about oversupply persist, especially with the potential increase in Iranian crude later this year. Please note: this podcast is…