Oil products price forecast update June 2023 Report

Commodity Market Report 01 June 2023

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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.

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