Macro oils short-term outlook: November 2021
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*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
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Global supply: OPEC+ rollover again, still steady as it goes
- Non-OPEC Supply: Minor changes to the outlook, US NGLs ramp up
- US Lower 48: completions outpace drilling two-to-one
- OPEC: agreement to continue existing easing of OPEC+ production cuts
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Global demand: Recovery continues as storm clouds gather
- 2021 and 2022: Recovery faces headwinds
- 2023: Asia-Pacific demand growth accelerates
- Risks to the outlook
Tables and charts
This report includes the following images and tables:
- Table: Risks to the Q4 2021 and annual 2022 global demand outlook
What's included
This report contains:
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