Commodity Market Report

Macro Oils short-term outlook: May 2021

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04 May 2021

Macro Oils short-term outlook: May 2021

Report summary

The oil market – and OPEC+ – are assessing the risk to demand growth from Covid-19 outbreaks in Europe and parts of Asia, including India. On the other hand, the two largest oil consuming nations, the US and China, are both showing positive signs of recovery with a near return to normal within sight. They are both forecast to see demand increases in 2021 of over 1 million b/d year-on-year. Read our new Macro Oils Monthly Update for more on: • The short-term price outlook including the Brent-WTI differential • What's behind our continued forecast for a 6 million b/d annual gain in 2021 demand • Impact of OPEC+ decisions on the supply forecast • The toll of the February freeze on US Lower 48 production

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    Macro Oils Short Term Outlook May 2021 Data.xlsx

    XLSX 4.68 MB

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    Macro Oils Short Term Outlook May 2021 Slidepack.pdf

    PDF 1.70 MB

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    Macro Oils short-term outlook: May 2021

    PDF 768.62 KB

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    Macro Oils Short Term Outlook May 2021 Slide Charts.xls

    XLS 1.22 MB