Commodity Market Report
Oil products price forecast update August 2021
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
This update incorporates all of the price forecasts, crude differentials and refining margins through to end-2022 on a regional level. Our monthly Ex-RVO Global Composite margin increased US$1.45/bbl to US$2.42/bbl in July as global gasoline cracks strengthened, particularly in the Atlantic basin. We expect the composite margin to rise further to US$2.56/bbl in August, reaching the annual highs in September at US$2.63/bbl as Atlantic Basin summer travel demand continues to increase. The next update to our prices and margins forecast will be our mid-month update published by close of business Monday 16 August.
Table of contents
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Global refining margin recovery accelerates on Northern Hemisphere gasoline demand
- Brent Price Outlook
- Key Changes to our prices and margins view
- Crude price and differential analysis
- Regional refining margin analysis
Tables and charts
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What's included
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