Commodity Market Report
North America Crude Markets short-term outlook: January 2022
Report summary
Outages in light sweet crude producing regions such as Libya have compounded the tightness of sweet barrels in the Atlantic basin and supported both US crude export volumes and coastal prices, tightening WTI differentials to global benchmarks. We anticipate continued high demand for US barrels will continue driving US inventories lower in the weeks to come. What does this mean for WTI pricing? Also explored in this update: • Latest L48 supply outlook revised higher on drilling efficiencies • US commercial crude inventories sitting at multi-year lows • Canada inventories drawing aggressively in December and into January
Table of contents
- US Lower 48: improving efficiencies push growth higher
- US Crude and Product Inventories
- Differential Outlook
- Canadian inventories plummet in December
- Capline reversal enters service
Tables and charts
This report includes 2 images and tables including:
- US Commercial Crude Inventories
- West Canada Supply vs Long-haul Pipeline
What's included
This report contains:
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