COVERAGE AREA and macrothesis

It may be too soon to declare an end to economic growth, but economic slowdown among non-OECD consumers has left the world with swollen fossil fuel stockpiles. Turbulent oil markets remain torn between thin capacity margins and unrelenting OPEC production. Traders of every stripe are wondering: when will the market turn? Meanwhile, policy uncertainty continues, too. Congress eventually lifted the U.S. crude oil export ban in December, but political leaders all over the world continue to wrestle new challenges of energy adequacy after so many decades of energy scarcity. Our oil, gas and coal coverage examines supply and demand fundamentals alongside domestic and international policy dynamics. In so doing, we can vet pertinent energy data for early signals of policy catalysts at the same time that we gauge quantitative impacts associated with policy outcomes. We provide clients with as-needed research notes, reports and flash blasts, and our periodic Macro Energy Briefing for upstream investors tracks key themes, contextualizes recent developments and outlines our forward-looking projections of relevant economic and policy trends.