Commodity Market Report
Regional product markets short-term outlook 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 regional crude runs and product-by-product supply-demand balances through to end-2022 on a regional level. The major change to our Asian outlook this month relates to our H2 2021 view on China. With expectations in China export quota increased from last month, we have adjusted crude runs from India and Singapore lower. In the Middle East, we now assume test runs at Al-Zour start from September with the ramping up of runs expected from November into 2022. We have also adjusted our view on historical Iranian crude runs and lowered our forecast by 100kb/d through H2 2021 and 200kb/d through 2022 to reflect the ongoing sanctions and slower recovery due to sustained COVID outbreaks. With US gasoline demand aligned with our previous outlook, we have retained our previous US crude run forecast. The recovery of European crude runs has remained muted through June and July despite sustained gasoline export demand to North America and West Africa.
Table of contents
-
Global refining system remains light end driven through H2 2021
- Changes to our Short-Term demand view
- Changes to our Short-Term supply view
- Regional refinery analysis
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
North America gas supply basin takeaway monitor
Wood Mackenzie's monthly update on pipeline takeaway capacity across key North America regions.
$950
Insight
Fibres sustainability feed
Wood Mackenzie’s fibres sustainability outlook – a live feed of our latest research
$900
Commodity Market Report
Europe power markets strategic planning outlook: 2025
A summary of our latest long-term regional outlook for European power capacity, supply and demand.
