Commodity market report
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Global product markets weekly update 3 October 2016

Global product markets weekly update 3 October 2016

Report summary

For the week commencing 26th September, refinery margins were mixed globally. Dated Brent strengthened last week as OPEC announced it’s intent to form a "high level committee" to discuss possible cuts (between 500 – 700 kb/d) with non-OPEC members. The announcement, along with a US crude stock draw, resulted in the Brent flat price gaining almost $3.00/bbl versus Wednesday’s close.

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

What's included?

This report includes 2 file(s)

  • Weekly Report 03OCT16.pdf PDF - 874.53 KB
  • Weekly historical margins 20161003.xls XLS - 249.50 KB


The short-term outlook for the refining sector is influenced by many factors: crude oil price, demand developments, new projects, refinery maintenance and refinery closures to name a few. The relationship between regions trading in crude and refined products requires a global perspective to understand how each region will be affected.

This weekly outlook report provides a regional update of historical pricing and margin performance. This report also predicts supply and demand trends, and forecasts prices for crude oil and refined products for the next 12 to 24 months.

The weekly short term outlook report is based on in-depth research about product supply and demand and helps refiners, traders and buyers determine product trading strategies and how to best optimise assets.

With over 20 years of experience in the refining industry, Wood Mackenzie is a trusted global leader with a reputation for producing consistently reliable information. Our senior analysts are based in the markets they analyse. They use detailed research data to forecast, benchmark and recognise trends that will help both new and existing participants identify opportunities and avoid risks.

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