Research: Oil risks, equity market drivers 2020 Jan 24, 2020 Research: Oil risks, equity market drivers 2020 By Blu Putnam, Chief Economist & Erik Norland, Senior Economist, CME Group Oil: Is Mideast risk premium too low? Oil prices surged but fell back after two recent Mideast incidents Risk premium much lower than $15-$20 before shale oil revolution Could dwindling capital expenditure lead to decline in US output? Probability of big market moves in 2020 higher than in 2018, 2019 Read article After record 2019, what will drive equities in 2020? Rate cuts, easing of US-China tension rallied equities in 2019 Earnings growth was slow, will likely grow modestly in 2020 Rate cuts in 2020 could signal concerns over slowing growth Still too early to write off another good year in equities Watch video SEE MORE ANNOUNCEMENTS