Oil held the headlines this year as it settled into negative territory for the first time. Since then, traders monitor energy reports very closely, especially the ones regarding oil supply and demand and forecasts for the period ahead.
For the financial community, the price of oil is of particular importance. It dictates inflation. Because of that, central banks calibrate the interest rate level. Therefore, oil influences monetary policies.
In 2020, energy demand dropped significantly. With the largest share of the global energy mix, oil and its price heavily influence economic growth. Moreover, supply and demand for the period ahead indicate the economic recovery pace.
The months left until the end of the year are packed with a bunch of important energy reports both for the oil market and for other related markets. However, the focus on each of these releases sits with oil and how they may move the price.
Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) released its annual World Oil Outlook. A highly valuable energy report shows predictions for the energy industry for the decades ahead.
More precisely, it covers energy demand trends, oil demand trends, liquids supply, but also climate change evolution or the outlook for the refining industry. In a few words, this is the research you want to have your hands on when interesting in the energy markets.
Next week on October 13th, the OPEC’s monthly oil market report shows the short-term changes in the energy markets. Together with this release, two other ones present an interest to energy traders:
IEA’s Oil Market Report follows a day later, and for the month of October, there is only the IEA’s Monthly Energy Review on October 27th left.
The year ends with the 180th Meeting of the OPEC Conference, with little or no important energy reports to follow after that. Therefore, looking at the oil market for the rest of the year, expect volatility to increase during these dates.
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