Commodity Market Report

Macro Oils short-term outlook: July 2021

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09 July 2021

Macro Oils short-term outlook: July 2021

Report summary

Prices strengthened during June, rising from $68 to $77 per barrel for Brent over the month, as demand is recovering strongly in the US and continuing to grow in other large economies. In contrast, the new Covid variants challenge the pace of demand recovery in H2 2021 as vaccines are gradually distributed, especially in emerging economies. Key topics include: • Our OPEC+ production scenarios after failing to reach an agreement • How US producers are responding to current market conditions • The new detailed Canada production forecast • Demand recovery continues in Europe, Russian and the Caspian while Asia growth slows

Table of contents

Tables and charts

This report includes 1 images and tables including:

  • Graph 1: Covid-19 Vaccination Rates by Country

What's included

This report contains:

  • Document

    Macro Oils Short Term Outlook July 2021 Slidepack.pdf

    PDF 1.58 MB

  • Document

    Macro Oils Short Term Outlook July 2021 Data.xlsx

    XLSX 3.30 MB

  • Document

    Macro Oils short-term outlook: July 2021

    PDF 831.27 KB

  • Document

    Macro Oils Short Term Outlook July 2021 Slide Charts.xls

    XLS 1.40 MB