Commodity Market Report
North America Crude Markets short-term outlook May 2020
Report summary
Fundamentals are still very weak. US storage is still rapidly filling. Cushing, Oklahoma will be at ‘tank-tops’ within weeks. But the rate of change of a number of leading indicators is telling a shifting story. Decelerating rate of storage builds, refining crude runs finding a floor, product stock draws offsetting crude builds, and early indications of large-scale supply reductions in L48 and Canada show a market grinding toward balance. Is this a glimmer of light at the end of the tunnel? In this report, we explore: -Impacts of shut-ins and frac holidays to reduce L48 and Canadian crude production -What leading indicators are saying about production and storage injections -State of Cushing and other regional storage in US and Canada -Alternative storage infrastructure being utilized in the global and domestic market
Table of contents
- US L48 outlook
- Canada outlook
- Storage capacity
Tables and charts
No table or charts specified
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