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Global product markets weekly update 6 March 2017: margins fall despite stock draws and refinery maintenance

Global product markets weekly update 6 March 2017: margins fall despite stock draws and refinery maintenance

Report summary

For the week commencing 6th March, gross refining margins weakened for most refiners. Global crude prices eased off last week’s 82 week high, despite recent news suggesting strong compliance in crude production cuts. The seasonal refinery maintenance schedule is impacting crude demand for refiners and resulting in regional crude builds. EIA data suggests US crude stocks built to a record high 520 mbbls, after eight straight weekly stock builds.

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 06MAR17.pdf PDF - 833.28 KB
  • Weekly historical margins 20170306.xls XLS - 264.50 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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