IIR's December 23rd Market Scorecard Brings You Breaking Geopolitical News

Researched by Industrial Info Resources (Sugar Land, Texas)--Stay current with the latest geopolitical events, and more importantly, instantly connect to how these events may impact you and your business strategies.

IIR's Market Scorecard gives you the breaking news headlines from around the world, along with the directional impact to commodities, with expert indicators, and live links to IIR key research so you instantly have the details you need and make the right decisions.

Wednesday, December 23rd, 2020:

Event	MarCon*	IIR Comment	IIR Links	Outlet
Short-Term Oil Demand Outlook in Rich Countries Is Bleak		"The IEA cut its forecast recovery in demand for 2021 by 170,000 barrels a day to 5.7 million barrels a day. That included a reduction of 400,000 barrels a day to its forecast demand for the second quarter. [...] Demand has somewhat recovered in the second half of the year from its historic 16% drop in the second quarter, but that resurgence "is almost entirely due to China's fast rebound from lockdown," the IEA said."	IEA Identifies Four Scenarios for Rebuilding Global Energy Markets	WSJ
India fuel demand is soaring despite pandemic		"The rebound in one of the world's biggest oil growth drivers before the pandemic highlights the two-speed global oil demand recovery, with Asia driving higher consumption and consequently, oil prices, while Europe and the United States are reeling from renewed restrictions to fight record COVID-19 infections. India's recovery is also indicative of the immediate support that strengthening oil demand in the key Asian markets, China and India, gives to oil prices, unlike vaccine news, which contains more forward-looking expectations of mass vaccinations boosting economies and hence, oil demand."	South Asia to See $4.88 Billion in Oil and Gas Projects Receive Funds in First-Quarter 2021, an Industrial Info Market Brief	Oil Price
Copper bulls bet green agenda will push metal toward record high		"A growing number of analysts and investors view copper's recent rally as the first leg of a "green-tinted" bull market that could carry the metal past the record high of more than $10,000 a tonne that it reached in early 2011. Copper, the world's most important industrial metal, reached a seven-year high of $8,000 a tonne on Friday having climbed more than 70 percent from its March lows in recent months."	U.S. Looks to $4.5 Billion in Metals and Minerals Project Kickoffs in First Quarter	Financial Times
Third of low-carbon funds invest in oil and gas stocks		Activists in the U.K. are firing back at investment companies as they find that "a third of climate funds sold in the U.K. are invested in oil and gas companies, according to research that highlights concerns that investors could be misled by sustainable investment products." The green wave in Europe continues!!!	Oil Patch Still Battered by Low Prices, Weak Demand	Financial Times
U.S. adds China's largest chipmaker to export blacklist		The Trump administration makes some final attacks on China before the transition into the new administration; "The Commerce Department placed 60 Chinese companies, including DJI and SMIC, on its "entity list." A Commerce Department official said SMIC was added to the list -- which requires U.S. companies to obtain a license to sell equipment and technology to the company -- because of concerns that chips were used in products for the Chinese military.'	China's Power Consumption Jumps 9.4% in November, an Industrial Info Market Brief	Financial Times
Weekly Recap: 12/16-12/23		East vs. West. As the New Year looms, one wonders if the health of the East, which is driving both oil & fuel demand, will be strong enough to balance what is happening out West, where in the U.S. (California) and now England, are entering strict lockdown periods. Granted the vaccines are here, but it will still take an inordinate amount of time to inoculate enough of the population to the point where a sense of health and normalcy returns to drive demand, which will still be below 2019 levels. Also, there is still the geopolitical strife between the Dragon & the Eagle, which could roil markets and unduly affect commodities. Essentially, there is quite a bit of recovery still to happen, and the recent market hype might realize a "reality check" in the short term.
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR.

For more information email us: iirteam@iirenergy.com.

Industrial Info's global research teams are committed to confirming and reporting on the ongoing changes related to current market disruptions and how they are impacting project schedules.

We have created two searches to assist you in quickly identifying projects and unit offline events that have been impacted or delayed as a result of COVID-19.

Please use the links below to run each query. Details will be limited to your IIR subscription.

For projects confirmed to have been impacted, click here.

For offline events that have been impacted, click here.

We encourage you to visit these links daily, as our research teams are constantly releasing updates.

We also believe there are many projects moving forward as scheduled. Please use your PECWeb subscription to identify new opportunities through your latest updates widget or use this link to find new projects that have been released since March 16: Click here.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.