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PVM Midday Report 11 September 2015

Published Friday, September 11th, 2015

  • IEA revises non-OPEC supply down and global demand up for 2016
  • Goldman Sachs cut oil price forecasts
  • European stocks are slightly down this morning
  • Fed is hoped to provide clues on rate increase at next Thursday’s policy meeting

Economy

The positive stock market performance triggered by positive US jobless claims report is running out of steam this morning. The FTSEurofirst 300 index is down 0.9% at the time of writing whilst the Nikkei 225 Index closed 0.2%lower earlier in the morning. The coming weekend will see the release of Chinese industrial output, retail sales and investment data. More importantly, next Thursday the US central bank will decide whether and when to increase interest rates.

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.