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Oil supply and refining short-term outlook: January 2017
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Report summary
On 13 January 2017, Wood Mackenzie presented papers on the short-term outlook for oil supply and refining. We explore the effect of two years of low oil prices on non-OPEC oil supply and the impact of OPECs decision to cut output in the first half of 2017. Stronger market fundamentals in 2017 support price, but also support the return of more US crude to the market in 2018. We review the outlook for regional refining margins in 2017, the emergence of fuel oil strength, and consider the impact of key developments in Russia, the US and China.
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