Macro oils short-term outlook: March 2022
Report summary
Table of contents
-
Global supply: risks to oil supply dominated by sanctions and Iran nuclear talks
- Russia: production at risk from wide ranging sanctions
- Raft of sanctions introduced against Russia
- Risks to Russia crude oil supply
- Non-OPEC Supply: upgrades to US NGLs offset downgrades to GoM, Russia and Canada in 2022
- US Lower 48: high oil prices boost drilling outside of the Permian
- OPEC: production increases rolled over as planned for OPEC+, despite market volatility
-
Global demand: 2022, 2023 demand raised on alignment to our long-term outlook; recovery pace at risk amid recent oil price escalation
- Long-term to short-term outlook alignment in the wake of IEA adjustments
- 2022: Global demand to reach above 100 million b/d by Q2 2022
- 2023: Global demand eclipses 103 million b/d on stronger transport fuel recovery
- Risks to the outlook
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
08 December 2022
Macro oils short-term outlook: December 2022
Macro oils short-term outlook: December 2022
Oil market focuses on recession risk while EU Russian oil import ban and G7 price cap are implemented
$2,00010 January 2023
Macro oils short-term outlook: January 2023
Macro oils short-term outlook: January 2023
Oil prices bumped down over the holidays and into the new year. We still project a moderate recovery in the market, especially in Q1 and Q2
$2,00009 November 2022
Macro oils short-term outlook: November 2022
Macro oils short-term outlook: November 2022
US SPR sales end in 2022, while the EU oil import ban on Russian crude starts in December, weighing on our Q4 2022 price outlook
$2,000