Oil products price forecast mid-month update December 2022

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.