Macro Oils short-term outlook: September 2021
Report summary
Table of contents
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Global supply: gradual lifting of OPEC+ production restraint still on track
- Non-OPEC: Hurricane Ida continues to disrupt oil production in US GoM
- US Lower 48: production holds steady as budgets remained unchanged
- Hurricane Ida disrupts Gulf of Mexico production
- OPEC: minimal changes as OPEC+ group stick to July agreement
-
Global demand: Asia-Pacific lags the North America/Europe-led demand recovery
- 2021: Transport fuel demand bears the brunt of the H2 2021 Asia-Pacific recovery slowdown
- Asia-Pacific
- Europe
- Americas
- Middle East
- Africa
- 2022: Global demand exceeds pre-pandemic levels in H2 2022
- Risks to the outlook
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