Commodity Market Report

North America Crude Market 10-year investment horizon outlook 2023

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Converging themes in the US shale patch are echoing through the entire North American crude value chain in our latest outlook, including notable shifts in US Lower 48 growth rates, tightening US balances and differentials to global benchmarks, and questions about midstream investment needs. Trends in the shale patch that are well rooted at this point – such as E&P focus on cashflow and shareholder distributions over production growth – have been paired with more nascent trends, such as major operator consolidation, focus on resource longevity, and a newfound price inelasticity in the rig count that has fallen precipitously in H2 2023.

Table of contents

  • Prices
  • US Balance
  • US Lower 48 Production
  • Midstream Outlook

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    North American Crude Investment Horizon Outlook Slidepack October 2023.pdf

    PDF 2.69 MB

  • Document

    North America Crude Midstream Forecast Tool IHO October 2023.xlsm

    XLSM 23.84 MB

  • Document

    North America Crude Market Supply And Inland Infrastructure IHO October 2023.xlsx

    XLSX 2.54 MB

  • Document

    North America Crude Market Exports And Coastal Infrastructure IHO October 2023.xlsx

    XLSX 226.27 KB

  • Document

    North America Crude Markets Price Forecasts IHO October 2023.

    XLSX 60.79 KB