Commodity Market Report
Regional product markets short-term outlook June 2024
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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. Global crude processing averaged 80.25 million b/d in May, a month-on-month decrease of 420kb/d, despite the conclusion of seasonal maintenance across Europe and North America. This represents a downward revision of 1.57 million b/d compared to our previous forecast, with cuts primarily from Asia. Global utilisation rates came in at around 77% for the month.
Table of contents
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US refiners ramp up in anticipation of an uptick in demand as the summer season begins
- Key market highlights
- Changes to our short-term demand view
- Changes to our short-term supply view
- Regional analysis
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What's included
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