Commodity market report

North America crude markets short-term outlook April 2017

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

For further information about this report submit the form below.

Report summary

With weaker supply and demand fundamentals expected in H1 2018 we have revised down our Brent price forecast. With lower prices our outlook for US L48 crude production has also shifted. Uncertainty remains around whether or not OPEC will roll over the production cut agreement in May. While US crude oil stockpiles grew by over 50 million barrels in the first quarter of 2017 production growth was only a small factor behind the stock build. We analyze the key drivers of the first quarter stock build and investigate the long term trend of rising crude oil stocks since the advent of US tight oil. Midstream developments have continued to grab headlines over the past month with the federal approval of Keystone XL and the proposal of new pipelines out of the Permian. But given the approval of Trans Mountain Expansion and Line 3 Replacement is Keystone XL still needed? In the Permian could producers experience takeaway shortages in the near term despite the recent wave of proposed projects?

What's included

This report contains

  • Document

    North America Crude Markets short-term outlook April 2017.pdf

    PDF 1.14 MB

  • Document

    North America Crude Markets short-term outlook April 2017.xlsx

    XLSX 347.37 KB

Table of contents

  • Executive summary

Tables and charts

This report includes 0 images and tables including:

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898