Commodity market report
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North America crude markets short-term outlook September 2017

North America crude markets short-term outlook September 2017

Report summary

US crude runs fell from all time highs due to Hurricane Harvey's impact on US Gulf Coast refinery operations. The reduced demand in PADD III weighed on WTI, further expanding the Brent-WTI differential. Gulf Coast refinery shut downs and port closures left crude barrels with no outlet to market, forcing a stock build. The excess supply of light crude depressed regional benchmarks, opening an arbitrage to export crude from the Gulf Coast to Europe.

Trans Mountain Expansion's prospects improved after the Vancouver Fraser Port Authority authorized an expansion of the Westridge Marine Terminal. Line 3 received a political blow after the Minnesota Department of Commerce claimed the pipeline is not needed.

The Department of Energy recently announced a 14 million barrel SPR notice of sale. Depending on timing, this could further depress crude prices in the Gulf Coast.

What's included?

This report includes 2 file(s)

  • North America Crude Markets short-term outlook September 2017.pdf PDF - 1.30 MB
  • North America Crude Markets short-term outlook September 2017.xlsx XLSX - 377.46 KB


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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