Commodity Market Report
Regional product markets short-term outlook December 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 regional crude runs and product-by-product supply-demand balances through to end-2025 on a regional level. Gasoline balances have continued to build globally, with inventories sitting near the top of the 5-year range heading into the end of the year. Meanwhile, distillate balances have started to recover after declining over the last several months in an undersupplied market. While we expect stocks to build heading into the end of the year, we continue to see strong demand growth for jet fuel which will continue to pressure diesel yields. Given the current inventory position for diesel, winter heating demand will be key to watch when looking towards 2024 balances to see if markets are in for a repeat of 2023.
Table of contents
-
Refined fuel stocks to build as refiners return from maintenance amidst concerns of weakening demand
- Key Market Highlights
- Changes to our Short-Term demand view
-
Changes to our Short-Term supply view
- Regional Analysis
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
US LNG cargo cancellations: why volatility comes before balance
Structure, timing, and company positioning all complicate how an oversupplied LNG market finds balance, with ripple effects on US gas.
$950
Insight
One year of Trump: for better or worse? The CCUS story
CCUS under Trump: policy shifts, market resilience, and what’s next.
$1,250
Insight
Fibres sustainability feed
Wood Mackenzie’s fibres sustainability outlook – a live feed of our latest research
$900
