Macro oils short-term outlook: March 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
- Global Supply: OPEC+ extends and deepens production cuts through Q2 2024
- Non-OPEC: strong growth in Latin America offset by downgrades to Norway in 2024
- US Lower 48 annual oil production growth forecast to slow to 270,000 b/d in 2024
- Frac spread market continues to stay tight with focus on efficiency
- OPEC: OPEC+ extends additional voluntary cuts through Q2 2024
- Global demand: Strengthening outlook for industrial production supports recovery in diesel sales
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Liquids demand by key markets
- China
- United States
- Europe
- Global outlook for 2025
- Risks to the outlook
Tables and charts
No table or charts specified
What's included
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