Commodity Market Report

United States product markets long-term outlook H2 2019

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03 February 2020

United States product markets long-term outlook H2 2019

Report summary

Wood Mackenzie's outlook for the fundamentals of the United States oil products market. United States refiners are forecast to increase runs in 2020 but then are driven to reduce product output through 2025 as a global refining overbuild takes shape. The US crude slate still will be dominated by domestic and Canadian crude, but our recent update has been revised downward. Slower domestic shale growth will keep imports in the diet. This report contains our views on supply and demand of refined products (LPG, naphtha, gasoline, jet fuel, diesel/gasoil, and fuel oil).

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