Commodity Market Report

Regional product markets short-term outlook May 2022

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29 April 2022

Regional product markets short-term outlook May 2022

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. For this update, we have incorporated our latest global GDP outlook, the impact of elevated prices, and the Russia/Ukraine invasion. The oil and refined product market outlooks remain highly uncertain and volatile. Producers, traders, shippers, refiners and even consumers are all having to adapt to shifting crude and product flows – and pricing.

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