Commodity Market Report
Oil products price forecast update August 2021
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
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