Commodity Market Report

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

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03 August 2017

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

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?

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:

  • Executive summary: Image 1

What's included

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  • 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

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

    PDF 306.19 KB

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

    ZIP 2.17 MB

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