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Commodity Market Report

North America Crude Markets short-term outlook: March 2023

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07 March 2023

North America Crude Markets short-term outlook: March 2023

Report summary

A common theme has arisen from the recent wave of earnings calls over the past few weeks, as oil majors and independent refiners alike have warned of a heavy US maintenance period to start the year. For many refiners, H1 2023 is a chance to catch-up on much needed regular maintenance as numerous refiners deferred larger maintenance projects in recent years amidst the pandemic and record margins. Other topics addressed in this report include: • Update on drivers behind widening WTI discounts to North Sea Dated • A progress update on Exxon’s Beaumont refinery expansion • A refresh on our outlook for Bakken supply vs. takeaway capacity • US crude inventories post largest relative builds to start the year since 2015

Table of contents

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Tables and charts

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What's included

This report contains:

  • Document

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

    PDF 1.63 MB

  • Document

    North America Crude Midstream Outlook March 2023.xlsx

    XLSX 3.50 MB

  • Document

    North America Supply & Pricing March 2023.xlsx

    XLSX 1.16 MB

  • Document

    WCSB Supply & Diluent Outlook March 2023.xlsx

    XLSX 9.80 MB