Oil products price forecast mid-month update January 2022

The excel files associated with this report provide a mid-month update to our short-term products prices and margins forecasts. For this mid-month update, we have made only minor changes to our outlook. Prices and margins for January 2022 have been updated to reflect the oil price movements so far this month since our last update on 10 January. Our monthly ex-RVO Global Composite margin remained unchanged in the first half of January as stronger jet cracks were offset by weaker fuel oil cracks. Strong Asian distillate cracks have also continued to provide additional support as Chinese exports remain low. The next full update to our prices and margins forecast will be published on 1 February 2022.