Name: Macro Oils short-term outlook May 2020
Brand: Wood Mackenzie
SKU: 129112
Price: 2000 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Commodity Market Report 01 May 2020

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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What a month it has been. A lot has changed since our 30 March 2020 Monthly Update including wider implementation of coronavirus containment measures and a dramatic OPEC+ meeting that concluded 12 April 2020. But for all the changes, our price forecast for Brent remains largely the same. The OPEC+ deal production cuts take effect 1 May and we expect a shift in the oversupplied market to start this month and continue during June. The updated forecast continues to show that oil demand was at its lowest point in April, while OPEC production falls sharply this month. Highlights of our Macro Oils short term outlook include: • Our updated short-term macroeconomic forecast and a downward revision to demand • Implementation of the new OPEC+ cuts and if we expect full compliance • Our latest assessment of US Lower 48 production and the impact of shut-ins and frac holidays • The US storage situation and other aspects of global storage</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

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        <a href="#0dabea0a-3e3f-4777-966e-3c3712a10d21" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="0dabea0a-3e3f-4777-966e-3c3712a10d21" aria-expanded="false">
            Global liquids supply: production shut-ins begin to bite into oversupply
        </a>
        <ul id="0dabea0a-3e3f-4777-966e-3c3712a10d21" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        OPEC: radical shift in production outlook as landmark agreement reached
    </li>
    <li class="push-quarter--bottom">
        Non-OPEC supply: between a cut and a hard place
    </li>
    <li class="push-quarter--bottom">
        OPEC+ cuts: Russia and the Caspian lead the way
    </li>
    <li class="push-quarter--bottom">
        US Lower 48: cuts, deferrals and shut-ins
    </li>

</ul>
    </li>

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        <a href="#ba04ae5b-49c5-4466-815e-d5e8c3a1b566" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="ba04ae5b-49c5-4466-815e-d5e8c3a1b566" aria-expanded="false">
            Global liquids demand: 2020 demand falls to 7-year lows amid post-pandemic economic contraction in Q3, Q4 2020
        </a>
        <ul id="ba04ae5b-49c5-4466-815e-d5e8c3a1b566" class="panel-toggle push-half--left push-half--bottom">
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        Growing scale and duration of Covid-19 impacts drop Q2 demand to 11-year lows
    </li>
    <li class="push-quarter--bottom">
        Demand outlook by region
    </li>
    <li class="push-quarter--bottom">
        Downside risk remains, but progress on Covid-19 vaccine/therapeutics presents upside risk
    </li>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils short-term outlook May 2020 slidepack.pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>1.83 MB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils short-term outlook May 2020</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>770.99 KB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro oils short term outlook May 2020 slide-charts.xls</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>1.33 MB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Macro Oils short-term outlook May 2020 data.xlsx</p>
<p class="uppercase delta">
    <span>XLSX</span>
    <span>3.64 MB</span>
</p>
</li></ul>
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