Commodity Market Report
Oil products price forecast update June 2023
*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-2024 on a regional level. Our monthly ex-RVO Global Composite margin average increased in May driven by strengthening global gasoline cracks. Margins are expected to remain relatively stable over the summer, with the global average rising to a peak by July and easing thereafter into the year-end.
Table of contents
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Global margins driven higher on US gasoline strength as global manufacturing slows
- Brent Price Assessment Change
- WTI Crude Assay change – implications for crude differentials and margins
- Brent Price Outlook
- Crude price and differential analysis
- Regional refining margin analysis
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What's included
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