Commodity Market Report
Oil products price forecast mid-month update December 2022
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The excel files associated with this report provide a mid-month update to our short-term products prices and margins forecasts. Prices and margins for December 2022 have been updated to reflect the oil price movements so far this month since our last update on 1 December. Our monthly ex-RVO Global Composite margin declined in the first half of December, led by weaker gasoil/diesel cracks, following the ramp-up in Western hemisphere refinery runs towards the end of November. Persistently weak Asian prices also facilitated active E-W trade flows, and higher than-expected Russian distillate exports have eased Atlantic Basin gasoil/diesel tightness. The next full update to our prices and margins forecast will be published on 9 January 2023.
Table of contents
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Margins slump on prompt weakness but 2023 tightness persists
- Brent Price Outlook
- Key Changes to our prices and margins view
- Crude price and differential analysis
- Saudi Aramco OSP Outlook
- Regional refining margin analysis
Tables and charts
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What's included
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