Name: Macro Oils short-term outlook: December 2020
Brand: Wood Mackenzie
SKU: 134193
Price: 2000 USD
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Author: Wood Mackenzie

Commodity Market Report 09 December 2020

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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What a difference a month makes. Announcements of effective vaccines has created a sense of relief for 2021. Our forecast for demand is not particularly affected because we have been assuming a viable vaccine would be in place and working its way into the system by end-Q1 2021. However, the reality of these vaccines eases the uncertainty of forecasting during a global pandemic. OPEC+ felt confident enough to shelve its plan for a rollover of its current production restraint and instead allow for a 500,000 b/d rise in January 2021, although that was a compromise outcome. However, risks remain including weak economic performance in those countries struggling to contain the pandemic. Highlights in include: • OECD crude stocks forecast to decline • Oil demand in China to rise above 2019 for Q4 2020 • US Lower 48 crude supply is still expected to decline year-on-year for 2020 and 2021 • OPEC+ output revised upward in wake of 3 December agreement</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle">
        <a href="#6d96e86e-1e57-42d6-a169-f956046b7795" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="6d96e86e-1e57-42d6-a169-f956046b7795" aria-expanded="false">
            Global supply: OPEC+ agreement will lift output from January 2021, but by less than initially planned
        </a>
        <ul id="6d96e86e-1e57-42d6-a169-f956046b7795" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        OPEC+ agree to 500,000 b/d supply increase from January 2021
    </li>
    <li class="push-quarter--bottom">
        US Lower 48: minor revisions to H2 2020 volumes, 2021-22 forecast remains unchanged
    </li>
    <li class="push-quarter--bottom">
        OPEC: upward revisions as Iran and Libya outlooks improve
    </li>

</ul>
    </li>

<li class="list__item-toggle">
        <a href="#dfc3adfb-a88e-45a4-8fc1-41521528f03a" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="dfc3adfb-a88e-45a4-8fc1-41521528f03a" aria-expanded="false">
            Global demand: Emerging economies take the lead in the global recovery
        </a>
        <ul id="dfc3adfb-a88e-45a4-8fc1-41521528f03a" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Q4 2020 and Q1 2021: Asia-Pacific, Latin America see signs of recovery
    </li>
    <li class="push-quarter--bottom">
        Q4 2020 Global Liquids Demand
    </li>
    <li class="push-quarter--bottom">
        Q1 2021 Global Liquids Demand
    </li>
    <li class="push-quarter--bottom">
        2021 and 2022: Global growth path for demand accelerates post-vaccine
    </li>
    <li class="push-quarter--bottom">
        Risks to the outlook
    </li>

</ul>
    </li>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>
    <p>No table or charts specified</p>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils Short Term Outlook December 2020 Slidepack</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>1.37 MB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils Short Term Outlook December 2020 Data</p>
<p class="uppercase delta">
    <span>XLSX</span>
    <span>4.68 MB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils short-term outlook: December 2020</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>764.06 KB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils Short Term Outlook December 2020 Slide Charts</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>1.02 MB</span>
</p>
</li></ul>
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