Commodity market report
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North America crude markets short-term outlook October 2016


North America crude markets short-term outlook October 2016

Report summary

Pipelines have continued to dominate headlines as evidenced by the recent sabotage of five Canadian pipes carrying 2.8 million b/d of crude oil. The disruptions were in solidarity to against a new Bakken pipeline sets a new high watermark in pipeline activism. This month, we assess which oil plays are located near Native American reservations and could be subject to new laws when building crude oil pipelines.
We expect US crude oil stocks to rise as refineries enter fall maintenance. This build could support an uptick in US oil exports. In recent months, the East Coast has eclipsed the Gulf Coast as the largest departure point for US oil exports. The report outlines some export routes.
The informal OPEC gathering in Algiers has helped support oil prices. The fundamentals analysis continues to show an implied global oil stock draw in Q4 2016. On that basis, we forecast a rise in prices. Higher prices suggest an accelerated drawdown of DUCs. This report includes some analysis on DUCs.



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Description

The oil industry is one of the largest in the world, with high revenues and costs, and major investments that have long lead times. The short-term outlook captures key industry developments, the impact of events and geopolitical influences on oil prices.

This Oil Markets Short Term Outlook report provides detailed fundamentals of supply and demand.

Crude oil investors can use this report to make short-term tactical decisions and assess the behaviour of industry players and governments.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced analysts are based in the key oil producing and consuming regions they analyse, providing detailed field-by-field data and demand forecasts driven by country and sector developments.

Our trusted insight helps you deliver successful growth strategies.

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