Commodity Market Report
Regional product markets short-term outlook January 2022
*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-2023 on a regional level. Our demand view has remained largely unchanged as the impact to personal mobility from the Omicron Covid-19 variant remains in line with our previous expectations as restrictions remain targeted as opposed to the widescale lockdowns seen in 2020 and 2021. Atlantic basin fundamentals tightened further in December, despite US refinery utilisation rates touching 90% as European runs have remained low. Strong gasoline demand despite higher Omicron cases has kept fundamentals tight. Higher runs will be needed as demand recovers into Q1 2022 given tight transport fuel stocks across the globe.
Table of contents
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H1 2022 refining outlook to rebound on tight Atlantic Basin fundamentals as Omicron variant fears subside
- Changes to our Short-Term demand view
- Changes to our Short-Term supply view
- Regional refining outlook
Tables and charts
No table or charts specified
What's included
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