Commodity Market Report
Regional product markets short-term outlook March 2022
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*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 for 2022 has been revised higher and now sits above 2019 levels, driven by increases in diesel/gasoil and jet fuel. Supply has been revised downward in 1H 2022 with lower crude runs in Europe and the US from an active maintenance season. We see distillates balances even tighter than our previous update, particularly over the next several months.
Table of contents
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Global refinery operations remain distillate led through H1 2022 as Atlantic Basin tightness persists
- Changes to historic demand – IEA upward revision
- Changes to our Short-Term demand view
- Changes to our Short-Term supply view
- Regional refining outlook
Tables and charts
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What's included
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