Commodity market report
| |
46 Pages

Global macro oils short-term outlook early December 2015

Global macro oils short-term outlook early December 2015

Report summary

The new Macro Oils Monthly Update provides our short-term forecast for global oil supply, demand and crude oil prices by quarter through 2017. The outlook for Brent, WTI and Dubai is presented in a text report. Supply is broken down by OPEC and non-OPEC with details on key producers. The oil demand forecast covers all nations presented regionally with largest consumers at the country level by product. The analysis takes into account the December 2015 OPEC meeting and the lifting of sanctions against Iran in 2016.

What's included?

This report includes 3 file(s)

  • Global macro oils short-term outlook early December 2015 PDF - 829.00 KB 46 Pages, 12 Tables, 32 Figures
  • 11 December 2015 data.xls XLS - 979.50 KB
  • 11 December 2015 prices.xls XLS - 275.50 KB


The oil industry is one of the largest in the world, with high revenues and costs, and major investments that have long lead times. The short-term outlook captures key industry developments, the impact of events and geopolitical influences on oil prices.

This Oil Markets Short Term Outlook report provides detailed fundamentals of supply and demand.

Crude oil investors can use this report to make short-term tactical decisions and assess the behaviour of industry players and governments.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced analysts are based in the key oil producing and consuming regions they analyse, providing detailed field-by-field data and demand forecasts driven by country and sector developments.

Our trusted insight helps you deliver successful growth strategies.

  • Executive summary
  • Prices
    • OPEC meeting
    • Key to oil market: Growth in OPEC crude oil output slows in 2016
      • Price Outlook
    • Storage factor in the market
      • United States
      • China
      • Japan and Korea
      • Room to absorb
    • Brent-WTI differential
      • Outlook for US crude oil stocks
  • Supply
    • Highlights
    • OPEC supply
    • Non-OPEC supply
      • North America
      • Latin America
      • Europe
      • Russia and Caspian
      • Africa
      • Asia and Oceania
      • Middle East
  • Demand
    • Global
      • Annual Change in Global Oil Demand (million b/d, 2011-2017)
      • Annual Change in Regional/Country Oil Demand (million b/d, 2015-2017)
    • North America
      • United States
        • Year-on-Year Change in US Demand (million b/d, Q1/2014-Q4/2017)
      • Mexico
        • North American Demand by Major Product 2013-2017
        • Europe

In this report there are 44 tables or charts, including:

  • Executive summary
  • Prices
    • Shift in the fundamentals in 2016: Annual growth in global supply and demand
    • Quarterly historic and forecast price outlook: Brent, WTI and Dubai
    • Monthly Brent price (US$/bbl)
    • Implied global stock build/stock draw based on supply-demand balance
    • Utilization of US refinery and tank storage of crude oil, by PADD
    • Wood Mackenzie's global supply-demand balance (million b/d)
    • Outlook for Brent-WTI
    • Prices: Image 6
    • Prices: Image 7
    • US crude oil stocks per oil production
    • US crude stocks per refinery crude runs
  • Supply
    • Global year-on-year change in supply
    • Non-OPEC monthly production outlook
    • OPEC monthly production outlook
    • Production forecast 2015-2017
    • Forecast for OPEC crude oil production by quarter through 2017 (million b/d)
    • Latest changes to 2015 forecast by country since previous monthly update (‘000 b/d)
    • Regional changes to our non-OPEC production forecast since previous monthly update
    • USA and Canada supply (million b/d)
    • US liquids production and rig count
    • Canada liquids production and rig count
    • Brazil liquids production by month
    • Brazil production year-on-year change by quarter
    • Non-OPEC liquids supply (million b/d)
  • Demand
    • Demand: Image 1
    • Demand: Image 2
    • World Oil Demand (million b/d)
    • Demand: Image 3
    • Demand: Table 2
    • Demand: Table 3
    • Year-on-Year Change in OECD Europe Demand (million b/d, Q1/2014-Q4/2017)
    • % Fill Rate for German Tertiary Heating Oil Stocks
    • European Oil Demand by Major Product 2013-2017
    • Year-on-Year Change in Japan Demand (million b/d, Q1/2012-Q4/2017)
    • Demand: Image 7
    • Demand: Image 8
    • Retail gasoline and diesel prices in India, Delhi (INR per liter, Jan/2012-Dec/2015)
    • Demand: Table 5
    • Russia Industrial Output, Year-on-year change
    • Russia selected prices, Year-on-year change
    • Demand: Image 12
    • Year-on-Year Change in Middle East Demand (million b/d, Q1/2014-Q4/2017)
    • Demand: Image 14
    • Oil Demand in other regions 2013-2017
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.