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Macro oils short-term outlook December 2016: OPEC adherence drives 2017 oil price forecast

Macro oils short-term outlook December 2016: OPEC adherence drives 2017 oil price forecast

Report summary

At its 30 November 2016 meeting, OPEC agreed to cut its production for H1 2017. In this Macro Oils Monthly Update, we assess 3 cases for adherence to the deal and implications for oil prices in 2017. For the remainder of the forecast period through 2018, we assume no rollover agreement in order to show our clients the fundamentals likely facing OPEC as they meet on 25 May 2017 to consider a rollover.

What's included?

This report includes 3 file(s)

  • Macro oils short term outook Dec 2016 slide pack.pdf PDF - 2.21 MB
  • Macro oils short term outlook Dec 2016 price outlook.xls XLS - 269.50 KB
  • Macro oils short term outlook Dec 2016 supply demand.xls XLS - 985.00 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.

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