Commodity market report

Macro oils short-term outlook: August 2017 oil price forecast

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Report summary

Over the past four weeks Brent has traded between $46 and $52/ bbl, with recent support driven by strong US crude stock draws and positive signals from the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) meeting in St. Petersburg. US commercial crude stocks are lower than they were this time last year following a 45 million barrel draw down over the past three months; while the JMMC meeting focused on improving adherence and targeting exports from key producers. As expected, the market is finally starting to rebalance. But for how long?

What's included

This report contains

  • Document

    Macro oils short term outlook August 2017 executive summary.pdf

    PDF 305.58 KB

  • Document

    Macro oils short term outlook August 2017.pdf

    PDF 1.02 MB

  • Document

    Macro oils short term outlook August 2017 price outlook.xls

    XLS 215.50 KB

  • Document

    Macro oils short term outlook August 2017 supply demand.xls

    XLS 962.00 KB

  • Document

    Macro oils short term outlook August 2017 US dollar.xls

    XLS 1.38 MB

  • Document

    Macro oils short term outlook August 2017 slide charts.xls

    XLS 412.00 KB

  • Document

    Macro oils short-term outlook: August 2017 oil price forecast

    PDF 306.19 KB

  • Document

    Macro oils short-term outlook: August 2017 oil price forecast

    ZIP 2.17 MB

Table of contents

    • OPEC signals willingness to extend production cuts beyond Q1 2018
    • All eyes on corporate spending guidance for 2018
    • Global demand – steady as she goes

Tables and charts

This report includes 1 images and tables including:

Images

  • Executive summary: Image 1

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