Commodity market report

Global product markets weekly: OPEC support sends crude prices higher and refinery margins lower

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Report summary

For the week commencing 27 November, refinery margins weakened again in all the key refining centres. Last week, OPEC extended their production cuts through 2018 with a potential escape clause set for their June 2018 meeting. This extension has been part of our base case since June 2017 and following the agreement we highlight some of our oil supply views in this recent editorial. In response to the announcement, the Brent crude market averaged over US$63/bbl, the second strongest weekly average in 2017 so far. In the slide pack, available in the Downloads section, weekly changes in prices and refinery margins are presented for six key pricing points around the globe: Northwest Europe Mediterranean US Gulf Coast New York Harbour Middle East Gulf Singapore

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This report contains

  • Document

    Weekly Report 4DEC17.pdf

    PDF 1.35 MB

  • Document

    Weekly historical margins 04DEC17.xls

    XLS 288.50 KB

  • Document

    Global product markets weekly: OPEC support sends crude prices higher and refinery margins lower

    ZIP 1.44 MB

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