Commodity Market Report
Macro Oils short-term outlook: April 2021
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
At its recent meeting, OPEC+ went with a phased increase in production from May to July this year. The decision matches our expectations. It also reduces the risk of a sharp spike upward in oil prices the next several months. Highlights in the Macro Oils short-term outlook include: • Impact of new lockdown restrictions on our demand view • US Lower 48: higher prices support supply upside in 2022 • How will Bakken producers be affected if the Dakota Access pipeline is shuttered? • What's driving the differential forecasts for WTI, Dubai and Maya
Table of contents
-
Global supply: easing of OPEC+ production restraint through July in line with our assumptions
- OPEC+ maintains a cautious stance, with substantial production increases still deferred until Q3 2021
- Non-OPEC supply: upward revisions focus on North America supply in 2022
- US Lower 48: higher prices position the Permian to set new records
- Higher prices support supply upside in 2022
- Dakota Access Pipeline (DAPL) faces possible shutdown with a decision imminent
- OPEC: minor revisions as OPEC+ meeting outcome is in line with expectations
-
Global demand : vaccine deployment fuels the demand recovery
- Global liquids demand this year: H2 2021 strength offsets Q1 2021 weakness
- Q1 2021:
- Q2 to Q4 2021:
- 2022: Demand exceeds pre-crisis levels in H2 2022
- Risks to the outlook
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
How would a delayed energy transition in North America impact the natural gas market?
North American gas market outlook in a delayed energy transition scenario.
$950
Asset Report
Boseto copper mine
A detailed analysis of the Boseto copper mine.
$2,250
Commodity Market Report
Europe energy prices: June 2025
Europe energy prices provides a comprehensive outlook for fuel, carbon and power prices in Europe to 2050.
$15,000
