• Nowhere To Go: 10 MMb/d of Oil Production Cuts Coming

    Tuesday, March, 31, 2020

    IHS Markit expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Transportation constraints and lack of access to every available tank will prevent the utmost maximum level of storage capacity being reached.
  • Small Business Hiring and Wage Growth Slow as Impacts of the Coronavirus Pandemic Begin to Take Effect

    Tuesday, March, 31, 2020

    Rochester, N.Y. (March 31, 2020) – The latest Paychex | IHS Markit Small Business Employment Watch shows a slight decrease in both small business employment and wage growth in March. The report is based on data through March 19, a time when many businesses began to modify operations as a result of the COVID-19 outbreak. At 98.21, the jobs index slowed 0.11 percent from February and 0.57 percent ...
  • Power Demand Coming Back in China After Unprecedented Drop During COVID-19 Lockdown

    Monday, March, 30, 2020

    “While hotels and restaurants shuttered, electricity demand from the telecom and webservice sector increased 27% as home isolation policies drove up usage of technology such as mobile applications, internet and TV. We will likely see similar trends in other countries as lockdown policies expand.” – Xizhou Zhou, vice president and managing director of global power & renewables, IHS Markit
  • LNG Deliveries to Europe are Set to Reach an All-Time High in March as Global Surplus Continues to Flow to the Region

    Friday, March, 27, 2020

    Total LNG deliveries to Europe are expected to reach nearly 11 million metric tons (MMt) —a 14% hike from the previous record set in December. The ongoing supply push into Europe comes just at the moment gas demand is collapsing at double digit rates.
  • COVID-19 Spares Nobody: Mobility Impacts of a Global Pandemic

    Thursday, March, 26, 2020

    What could the impact of the global spread of coronavirus disease (COVID-19) mean for mobility, in the short term and longer term?
  • Oil Storage Vulnerability: Which Countries Have the Least Capacity to Spare as Crude Demand Declines and Supplies Build Up?

    Thursday, March, 26, 2020

    Current global output levels cannot be sustained throughout the second quarter because oil storage capacity will fill up.IHS Markit estimates that the gap between world oil (liquids) supply and demand will be 7.4 MMb/d for Q1 2020 and 12.4 MMb/d in Q2 2020.
  • The Days the Earth Stood Still: Global Oil Markets Face Reckoning

    Wednesday, March, 25, 2020

    Light-speed oil surplus: blink and you’ll miss it. Last week marked the decisive inflection point for markets in terms of recognizing the scale of the looming surplus as major countries across Europe and North America shut down. Our latest estimates for global liquids demand point to a year-on-year contraction in the second quarter of 2020 of more than 14.0 MMb/d. With supply on its current traj...
  • Engineering and Construction Materials Prices Fall for First Time in 40 Months on Coronavirus Impacts, IHS Markit Says

    Wednesday, March, 25, 2020

    NEW YORK (March 25, 2020) – Construction costs increased once again in March, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Indexregistered 50.2, a figure barely above the neutral mark. The last time the headline index registered an almost flat pricing was in November 2016. After 40 months, t...
  • Coronavirus Impact on Global Auto Demand

    Wednesday, March, 25, 2020

    The COVID-19 virus (coronavirus) epidemic is spreading rapidly, with a growing number of countries around the world announcing drastic measures to slow down the infection rates. Key European countries are intensifying already-implemented restrictions, while the United States is starting to implement more aggressive measures in various areas.Over the last few weeks, IHS Markit has been evaluating a...
  • Coronavirus Impact on European and North American Auto production

    Friday, March, 20, 2020

    The COVID-19 virus (coronavirus) epidemic is spreading quickly through-out the Western world. Major European countries have announced drastic measures to slow down the infection rates and the United States is starting to implement more aggressive measures in various areas.
  • The global economy is headed for recession: Updated IHS Markit Economic Forecast on Impact of COVID-19

    Wednesday, March, 18, 2020

    Disruptions to supply chains, demand, international trade flows, and travel, along with lockdowns and collapsing stock prices, resulting from the coronavirus disease 2019 (COVID-19) virus have dealt a heavy blow to the global economy.
  • Historic Surplus of Oil Will Push Prices Lower

    Monday, March, 16, 2020

    Extraordinary conditions can lead to startling outcomes. That is where the oil market now finds itself—in a truly extraordinary situation in what has been a transformative week for the global industry. There has been a dizzying drop in world oil demand and a dramatic pivot in Saudi oil production policy. This situation points to the possible buildup of the most extreme global oil supply surplus ...
  • APAC airlines dividends to be slashed due to COVID-19; impacts on dividends from cosmetics companies to be limited

    Monday, March, 16, 2020

    IHS Markit expects aggregate dividend payouts from airlines in APAC, under its coverage, to drop 20.7% to USD 1.4 billion in 2020 from a year ago amid stark earnings prospects over the short term. Airlines typically adhere to performance-linked dividend policies and they have been greatly hit by the coronavirus disease 2019 (COVID-19) outbreak.
  • Joint Statement by Mayor of Houston and CERAWeek Chairman on Cancellation of CERAWeek by IHS Markit 2020

    Sunday, March, 1, 2020

    A joint statement by the Mayor of Houston Hon. Sylvester Turner and IHS Markit Vice Chairman and CERAWeek Chair, Daniel Yergin on the cancellation of CERAWeek by IHS Markit 2020:
  • IHS Markit Announces Cancellation of Customer Events in Second Quarter 2020

    Sunday, March, 1, 2020

    IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, today announced that as part of its absolute commitment to the health and safety of its customers, partners and colleagues, and, given the situation regarding the coronavirus disease (COVID-19), it was necessary to cancel its large customer events in the second quarter of 2020.
  • CERAWeek by IHS Markit 2020 is Canceled

    Sunday, March, 1, 2020

    CERAWeek by IHS Markit 2020, scheduled to take place in Houston, March 9-13 is canceled.
  • Despite Coronavirus Impact, Engineering and Construction Costs Increased in February, IHS Markit Says

    Wednesday, February, 26, 2020

    NEW YORK (February 26, 2020) – Construction costs increased once again in February, according to IHS Markit (NYSE: INFO) and the Procurement Executives Group (PEG). The current headline IHS Markit PEG Engineering and Construction Cost Index registered 59.1 in February, marking the 40th consecutive month of construction costs increases. Both the materials and equipment and the sub-contractor labo...
  • Vienna Alliance Wavers in Face of Coronavirus Threat

    Tuesday, February, 11, 2020

    Back to work? This week was supposed to mark a return to something like normal for China. But even after a month of widespread quarantines and travel bans, the data doesn’t yet indicate a sustained slowdown in the outbreak. The number of cases doubled over the last week and topped 40,000 over the weekend, while the number of deaths has now exceeded the SARS pandemic. Many large companies in Chin...
  • Coronavirus couldn't come at a worse time for global shipping

    Sunday, February, 9, 2020

    Given the scale of the economic shock, the impact of the novel coronavirus on the global shipping industry is clearly negative. IHS Markit’s economics team expects that the coronavirus could reduce Chinese GDP growth by as much as 1% in 2020. Global real GDP would be 0.8% lower in the first quarter of 2020, and 0.5% lower in the second quarter before progressively recovering.
  • Impacts of Coronavirus Containment Effort Ripple Through Global Economy

    Thursday, February, 6, 2020

    Coronavirus will have a larger negative effect on the global economy than the SARS outbreak in 2003. At the time of SARS, China was the sixth largest economy, accounting for only 4.2% of world GDP. China is now the world’s second largest economy, accounting for 16.3% of world GDP. Therefore, any slowdown in the Chinese economy sends not ripples but waves across the globe. 
  • IHS Markit Analysis and Commentary: Coronavirus Impact on Automotive Industry

    Friday, January, 31, 2020

    Besides the human tragedy, the Coronavirus is starting to severely impact the Chinese economy and in light of that, the automotive industry as well. This report has incorporated the most recent information available at the time of publishing.