Macro oils short-term outlook: December 2021
Report summary
Table of contents
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Global supply: OPEC+ rollover continues, despite lower prices
- Non-OPEC Supply: minor revisions to forecast
- US Lower 48: DUC inventories approach irreducible lows
- OPEC: minimal changes as OPEC+ group stick with existing plan to ease production restraint
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Global demand: Emergence of Omicron variant raises risk to 2022 demand
- 2022: Omicron’s impact focused on Q1, but risks remain
- 2023: Asia-Pacific demand growth accelerates
- Risks to the outlook
Tables and charts
This report includes 2 images and tables including:
- Figure 1: Travel restrictions in the wake of the Omicron Covid-19 variant
- Table: Risks to the Q4 2021 and annual 2022 global demand outlook
What's included
This report contains:
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