The report highlights the stabilization of oil prices due to increased OPEC+ supply and normalized Strait of Hormuz transit. Regional economic indicators show cooling inflation in Turkey and diverging PMI trends across the Middle East.
Key Takeaways
- 1.Oil prices remain constrained as OPEC+ increases production and shipping through the Strait of Hormuz normalizes.
- 2.Turkey's annual inflation cooled to 32.1% in June, supporting the prospect of a gradual disinflationary path.
- 3.Regional PMI data shows diverging trends, with Saudi Arabia demonstrating strong non-oil growth while Qatar remains in stabilization phase.
Table of Contents
- COMMODITIES / ENERGY
- MIDDLE EAST – MACRO / MARKETS
- CALENDAR – DATA / EVENTS / MEETINGS
- MARKET INDICATORS
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Authors
Soojin Kim
Securities
Brent CrudeXAU
Themes
Disinflationary TrendsOPEC+ Supply IncreaseStrait of Hormuz Normalization
Regions
Middle EastAsia PacificSaudi ArabiaUAETurkey