Commodity Market Report

Regional product markets short-term outlook November 2023

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This update incorporates all of the regional crude runs and product-by-product supply-demand balances through to end-2025 on a regional level. Distillate markets have remained tight globally, but October saw a significant lengthening in the gasoline market as demand seemed to falter on the back of high prices and seasonal trends. With capacity expected to come back online over the next month, gasoline is expected to continue building inventories into the end of the year, while diesel looks to rebound off its current historically low stock levels.

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    Regional product markets short-term outlook November 2023

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