Archive

Qatar PMI 55.6 in May-23

- Qatar's Purchasing Managers' Index (PMI) in May-23 reached its highest level since July 2022, standing at 55.6.
- The May-23 PMI of 55.6 indicates a further expansion in economic activity and is significantly above the one-year average of 53.43.

Oil: In Search of Stability

• Despite what was, by all accounts, a challenging discussion at the Opec+ table last weekend, Saudi Arabia appears to have engineered a pragmatic outcome consistent with its drive to stabilise the oil price.

By Alastair Newton

Oil: Sentiment or Substance?

• Opec+ and investors face a conundrum over the extent to which the oil price slide since the 3 April output cut reflects substance or an unsubstantiated shift in market sentiment.

By Alastair Newton

Oil: Target One Hundred?

• As is generally the case with surprises, markets have almost certainly overreacted to the latest Opec+ cuts in oil output, the timing of which probably owes more to Saudi/US tensions than it does to global economic prospects. Nevertheless, Riyadh may still be looking for USD100pb.

By Alastair Newton