Webinar

Commodity key themes 2026: Softer oil prices and firmer metals

19 December 2025
    3 sessions:
  • 19 December 2025 – 10.00am GMT (London)
  • 19 December 2025 – 10.00am HKT (Hong Kong)
  • 19 December 2025 – 12.00pm EST (New York)
online

Join us as we explore the key forces set to shape global commodity markets in 2026.

In oil, a sustained surplus is likely to keep prices subdued, despite pockets of support from ongoing Chinese stock building. We expect gasoline demand has already peaked in key markets, with rapid EV uptake – particularly in China – driving structural declines ahead. Gold’s upward trajectory should persist, though sharp shifts in investor positioning will keep volatility elevated. Across non-energy commodities, government policy will exert increasing influence, from US tariffs on industrial goods to strategic intervention in critical metals supply chains. China will remain the primary driver of global commodity demand, but slower growth in its domestic metals output will tighten aluminium and copper markets.

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Speakers

Stephen Hare
Stephen Hare

Stephen is part of the Industry team where he is responsible for the extraction sector forecasts and contributes to the monthly commodity price forecasts for iron and steel. Stephen joined Oxford Economics in January 2018 after completing his MSc in finance and econometrics at Queen Marys University of London.

Lead Economist
Kiran Ahmed
Kiran Ahmed

Kiran has worked at Oxford Economics for over 15 years. During her time at the company, she has had responsibility for forecasting commodity prices, including energy and metals and is currently working on developing the Commodity Service’s agricultural commodity offering. In addition, she has had responsibility for forecasting several different industrial sectors including metals and engineering for the Industry Service and is now responsible for forecasting the agriculture sector. Kiran has led several consultancy projects in the Industry Team while at Oxford Economics and continues to manage some of the projects in capital goods sector.

Prior to working at Oxford Economics, Kiran worked at CRU, a metals consultancy, where she contributed to the aluminium demand analysis. Kiran holds an MSc in Economics from Nottingham University and a BA (Hons) from Kingston University.

Lead Economist
Sebastien Tillett
Sebastien Tillett

Sebastien joined Oxford Economics in 2023 as a graduate working across freight and transport advisory consulting. His main area of experience is in providing data analysis on projects within the maritime/trade and transport industries.

Prior to working at Oxford Economics, Sebastien had technology roles at AMP and Macquarie Bank before completing a Master of Economics.

Economist
Bridget Payne
Bridget Payne

Bridget is Head of Energy Forecasting. She leads the production of oil, gas, coal, and refined fuel forecasts for our Commodities Service and shapes Oxford Economics’ view on energy markets through analysis of key trends and developments.

Bridget joined Oxford Economics from the energy consultancy Flow&Ebb, where she supported corporate and industrial users with energy hedging, procurement, investment, and strategy. Prior to that, she worked in the Victoria State Government Department of Treasury and Finance, focusing on energy and climate policy.

She holds a Master of Development Economics from Victoria University of Wellington and a Bachelor of Business (Economics) from the University of Technology, Sydney.

Head of Energy Forecasting
Jack Reid
Jack Reid

Jack Reid is a Graduate Economist in the Macro Scenarios and Modelling team based in London. His current role focuses on energy market research and oil and gas price forecasting. He previously worked for Oxford Economics Australia as part of the Macroeconomic Consulting team. He holds a Master’s degree with distinction from the University of Sydney, where he was a class tutor for Introductory Macroeconomics. Jack has a previous internship at Sydney boutique economic consultancy NineSquared.

Graduate Economist - Scenarios and Macro Modelling
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19 December 2025
19 December 2025
10:00am GMT
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