Opening Statement from the February 2020 CCPM Forecaster 

Opening Statement from the February 2020 CCPM Forecaster 

Originally published on February 2, 2020  

Overview

On January 31, 2020, the United Kingdom officially left the European Union after more than three and one-half years since voters decided in a referendum held on June 23^rd 2016. But the details of trade between the UK and EU have yet to be determined adding to global trade uncertainty. 

Meanwhile, economic weakness in the EU continues to worsen as expected with France and Italy as standout underperformers. Quarterly GDP came in at only 0.1 percent, its slowest pace of growth in nearly seven years. 

The selloff in crude oil is largely due to fears of a more pronounced economic slowdown. We believe...