Strong Supply and Delta Variant Challenge Energy - Infographic

Energy has recently underperformed as the Delta variant impacts demand recovery, while the sector faces future fundamental headwinds as oil supply is ample set to increase with additional OPEC barrels and growing U.S. production. 

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  1. Top Left Source: FactSet, Our World in Data. Daily returns and new COVID-19 cases, 01/01/2021 – 18/08/2021.
  2. Top Right Source: FactSet, Energy Information Administration Short-Term Energy Outlook August 2021, Baker Hughes. Monthly oil production and total new rigs, 01/01/2017 – 01/12/2022. Forecasts start in August 2021.
  3. Bottom Left Source: OPEC, production cuts relative to countries October 2018 production, May 2020 to December 2022.
  4. Bottom Right Source: Energy Information Administration Short-Term Energy Outlook August 2021. World production and consumption, quarterly, Q1 2019 – Q4 2022. Forecasts start in Q3 2021.