Commodity Market Report

Oil products price forecast update January 2021

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08 January 2021

Oil products price forecast update January 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 global composite monthly refining margin declined US$0.41/bbl in December to US$1.12/bbl. driven by weakness in middle and heavy distillate cracks. The first week of the month saw the value collapse to US$0.40/bbl, the lowest since early August. In the second half of December the composite margin recorded consecutive weekly increases and rose to US$2.61/bbl, marginally eclipsing the October peak, to the highest value since April. The recovery was led by strength in light product cracks in all regions. The next update to our prices and margins forecast will be our mid-month update published by close of business Monday 18 January.

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This report contains:

  • Document

    Pricing MED Jan21

    XLS 1.75 MB

  • Document

    Pricing MEG Jan21

    XLS 1.56 MB

  • Document

    Pricing NWE Jan21

    XLS 2.15 MB

  • Document

    Pricing NYH Jan21

    XLS 1.04 MB

  • Document

    Pricing Spore Jan21

    XLS 2.49 MB

  • Document

    Pricing US Midcon Jan21

    XLS 1.59 MB

  • Document

    Pricing USGC Jan21

    XLS 2.02 MB