Commodity Market Report
Regional product markets short-term outlook July 2024
*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-2026 on a regional level. Global crude processing averaged 80.94 million b/d in June, with utilisation rates remaining at 77% as refinery margins remained weak. This month saw a rise of only 110 kb/d over May, a 1.2 million b/d downward revision to our previous forecast largely driven by weaker runs in Asia from poor margins and high outage levels at Russian refineries.
Table of contents
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Global balances to stay long through Q3 as demand growth remains sluggish
- 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
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