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Commodity Market Report

North America Crude Markets short-term outlook April 2020

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Product summary

US crude producers appeared to be sailing on smooth glass rolling into 2020, with visions of free cashflow and modest production growth. The midstream space geared up for yet more growth with an array of pipeline projects and offshore export terminals scheduled to come online over the next three years.

Suddenly, the entire US L48 crude value chain finds itself in the middle of a storm attempting to hold on for dear life. Battered by plummeting crude prices as a result of collapsing global demand and positive supply shocks simultaneously hitting the market, companies now have one unified goal over the next 18 months: simply stay afloat and weather the storm.

Buy this report to find out:

  • Impact of lower pricing environment on US shale and Canadian oil sands production
  • Project deferment and strategic behaviour deployed by midstream sector in the US
  • Effect of reduced refining runs on North American crude storage
  • Genscape’s real-time crude oil flow data for key Permian and US Gulf Coast pipelines for 30-days

What's included

  • Access to Genscape’s US Gulf Coast and Mid-Continent Pipelines Reports for 30-days (PDF, delivered weekly via email)
  • North America Crude Markets short-term outlook April 2020 (PDF)
  • North America Crude Market short term outlook April 2020 slidepack (PDF)
  • North America Crude Markets short term outlook April 2020 supply and pricing (xlsx)
  • North America Crude Market short term midstream outlook_April 2020 (xlsx)

Table of contents

  • US L48 Outlook
  • West Canada: Oil sands projects generally resilient but heavy and tight oil will be impacted
  • Storage will be leaned on harder than ever
  • Shell capacity vs. maximum operating capacity
  • North American storage outlook
  • What does this mean for NYMEX WTI pricing?
  • Midstream CapEx cuts far and wide
  • Bakken/Rockies supply hit hard; major midstream projects all likely deferred
  • Permian not immune to price collapse
  • The bust that follows the boom