Commodity Market Report

North America Crude Markets short-term outlook: August 2023

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In this update a softer US L48 supply growth view, especially in the Permian, coupled with a boosted US refining view in 2024 and 2025 naturally have ripple effects across the North American crude value chain. In this report, we assess the net impact of these dynamic variables in terms of trade flows, inland and coastal price differentials, and US export volumes. Other topics addressed in this report include: • A forward look on how a buying spree from Asian refineries might lead to a strong US export rebound in August • Update on Dakota Access Environmental Impact study and scenario analysis • Update on Western Canadian fundamentals as supply rebounds from multi-year lows • Construction update on the Westridge Terminal – which will facilitate waterborne exports via TMX

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What's included

This report contains:

  • Document

    North America Crude Market Supply & Pricing August 2023.xlsx

    XLSX 983.88 KB

  • Document

    North America Crude Midstream Outlook August 2023.xlsx

    XLSX 2.64 MB

  • Document

    North American Crude Market August 2023 Short Term Outlook Slidepack.pdf

    PDF 1.65 MB

  • Document

    WCSB Supply & Diluent Outlook August 2023.xlsx

    XLSX 9.44 MB