The relative stability in the oil market belies the significant shifts we are seeing in the supply data. With US production ramping up, and some other producers expected to produce more than previously forecast, the market looks oversupplied into 2018. This has led to a change in our outlook for OPEC – we now assume OPEC's current production cut agreement will be rolled over in May to support price stability through H2 2017. Into 2018, against a backdrop of slowing global demand growth, rapid growth in production volumes will inevitably put downward pressure on prices.
This report includes 6 file(s)
Macro oils short term outlook Feb 2017 Executive Summary.pdf PDF - 286.96 KB
Macro oils short term outlook Feb 2017 slide pack.pdf PDF - 2.36 MB
Macro oils short term outlook Feb 2017 price outlook.xls XLS - 269.50 KB
Macro oils short term outlook Feb 2017 supply demand.xls XLS - 996.50 KB
Macro oils short term outlook Feb 2017 US dollar.xls XLS - 1.37 MB
Macro oils short term outlook Feb 2017 slide charts.xlsx XLSX - 356.61 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.
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Commodity market report | Feb 2017
Macro oils short-term outlook Feb 2017: US oil supply response to trigger OPEC rollover?
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