Commodities (Crude Oil & Copper) & Macro Outlook

According to IEA's latest monthly report, the organization lowered its forecast for 2026 global oil supply deficit to 920,000 barrels per day, down from a previous estimate of 1.7 million barrels per day.

According to the IEA's latest monthly report, global refinery crude oil processing will decline by 2 million barrels per day in 2026.

According to the International Energy Agency's monthly report, global oil supply is projected to grow by 8 million barrels per day (bpd) in 2027, while demand growth is expected at only 2 million bpd, creating a "significant surplus" exceeding 5 million bpd.

According to the IEA monthly report, non-OPEC+ countries' oil production is forecast to increase by 2.5 million barrels per day in 2027.

According to the International Energy Agency's latest monthly report, the organization has raised its 2026 global crude oil demand cut forecast to 1.1 million barrels per day, compared to its previous projection of 420,000 barrels per day, reflecting a 680,000 barrel-per-day increase in expected dem

According to the International Energy Agency's latest monthly report, OECD member nations' government petroleum stockpiles have fallen to their lowest level since 1990.

According to the International Energy Agency monthly report, global oil inventories have declined by an average of 3.8 million barrels per day since the outbreak of the Ukraine war in February 2022.

According to the International Energy Agency's monthly report, OPEC's daily crude oil production declined by 1.1 million barrels in May compared to the previous month.

According to the International Energy Agency's latest monthly report, OPEC oil production is projected to increase by 5.5 million barrels per day in 2027.

The International Energy Agency (IEA) will release its monthly crude oil market report in 10 minutes.

According to Tanjug news agency, Hungary's MOL Group received a U.S. Treasury extension to continue negotiations for acquiring a majority stake in Russian oil company NIS until July 1.

According to Jin10 Futures, Fujairah oil inventories fell to a record low of 5.145 million barrels as of June 15. Light distillate stocks, including gasoline and naphtha, declined 33.1% to 1.376 million barrels, also marking a historic low. Heavy distillate and residual stocks increased 17.9% to 2.4

According to Jin10, Shanghai Futures Exchange (Shanghai Futures) energy and petrochemical warehouse receipts showed mixed movements on June 17. Pulp warehouse receipts fell to 240,812 tons, down 1,297 tons from the previous trading day, while pulp factory receipts remained flat at 20,000 tons.

According to Bloomberg, Singapore's Monetary Authority Managing Director Chia Der Jiun warned at the Lujiazui Forum that global fiscal policy space has contracted while risks continue to mount. He cautioned that if energy supplies through the Strait of Hormuz fail to recover fully, energy shocks

According to BlockBeats, WTI crude oil fell below $75 per barrel on June 17, marking the first time since March 4. The contract declined 2.22% intraday.

According to G7 statements released today (June 17), the Group of Seven agreed to strengthen sanctions on Russian oil and gas and reduce dependence on the Strait of Hormuz, while increasing energy reserves. Separately, U.S. President Trump stated the administration is prepared to let existing Russia

Canadian Prime Minister Carney announced that the country is on track to produce 150 million tonnes of liquefied natural gas by the end of 2026. The statement reflects Canada's commitment to expanding its energy export capacity amid global LNG

According to Goldman Sachs' research report published on June 17, the bank downgraded its Brent crude oil price forecast for the fourth quarter of 2026 from $90 per barrel to $80, and its 2027 average forecast from $80 to $75 per barrel. West Texas Intermediate (WTI) is projected to average $75 per

According to futures market tracking, the Strait of Hormuz is expected to reopen on Friday (June 19), with 60 empty supertankers currently gathered in the Oman Gulf—nearly double the amount seen at the beginning of June. Three Iranian oil tankers have exported approximately 5 million barrels of

UK unadjusted output PPI rose 0.5% month-on-month in May, matching the expected forecast. The producer price index for output also saw the previous month's reading revised upward from 1.40% to 1.5%.