Our Barrel Report series consists of four monthly reports that provide comprehensive coverage of crude oil, light distillate, middle distillate, and fuel oil/residue markets. These reports offer expert-level fundamental coverage of individual fuels with consistent model-driven projections in a succinct chart-heavy format.
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Crude Oil Barrel
Crude Oil Barrel (COB)
Our Crude Oil Barrel report provides detailed analysis on global crude supply, demand, balances, trade flows and pricing. A data Excel add on also allows clients to plug JBC Energy’s proprietary fundamental data into their own models.
- Released no later than the first business day after the Saudi Arabian Official Selling Prices.
- Data and charts on all relevant aspects of crude oil demand, supply, balances, trade flows, and pricing.
- Expert-level fundamental coverage and consistent model-driven projections in a succinct chart & bullet point style.
- Optional monthly data compilation is also available.
Issue 6 - 7 Jun'22
While the EU embargo on Russian crude imports remains in the spotlight, the US supply outlook is providing an additional bullish impetus.
Issue 5 - 9 May'22
Russia manages to place its barrels on the market, however, trade flows are shifting strongly.
Issue 4 - 5 Apr'22
Crude markets experience a roller coaster ride as supply tightness in the wake of the Russia-Ukraine war encounters severe downside risks to Chinese demand.
Issue 3 - 7 Mar'22
Russia’s invasion of Ukraine and the mulling of outright sanctions against Russian oil propelled oil prices to their highest since 2008.
Bottom of the Barrel
Bottom of the Barrel (BoB)
Our Bottom of the Barrel report offer expert analysis of the fuel oil market and beyond. Each report covers the fundamentals of the various residues and the interplay between them and provides detailed forecasts for what this means for bunker fuels, secondary feedstocks, and demand from the power segment.
- BoB covers VLSFO, HSFO, LSSR, HSSR, LSVGO, HSVGO, and bitumen markets.
- Data and charts on all relevant aspects of demand, supply, balances, trade flows, and pricing
- Expert-level fundamental coverage and consistent model-driven projections in a succinct chart & bullet point style.
- Optional monthly data compilation is also available.
Issue 6 - 10 Jun'22
Hi-5 spreads en route to the moon, with limited reason for optimism on the side of HSFO. Scrubber economics promise to steal the show going forward.
Issue 5 - 9 May'22
Significant increases in Far East Russian flows have added to the supply balance in Asia, while raised output from Indonesia has also increased product availability. Singapore cracks remain supported by strong demand in India and Pakistan as the region heads towards summer peak demand season
Issue 4 - 15 Apr'22
The tsunami in commodity markets is making itself visible at the bottom of the barrel.
Issue 3 - 10 Mar'22
HSSR coking margins rise strongly amid high middle distillate yields. However, with Russian barrels likely to not get snatched, other players are to step in and fill the gap.
Middle of the Barrel
Middle of the Barrel (MoB)
The Middle of the Barrel report offers comprehensive coverage of global middle distillate markets. Each report starts with our key messages of the month for gasoil, diesel and jet, kero markets where we highlight the potential opportunities and threats in the coming months for the middle distillate cut of fuels.
- MoB covers gasoil, diesel, VGO, MGO, jet fuel, kerosene and more.
- Data and charts on all relevant aspects of demand, supply, balances, trade flows, and pricing
- Expert-level fundamental coverage and consistent model-driven projections in a succinct chart & bullet point style.
- Optional monthly data compilation is also available.
Issue 6 - 13 Jun'22
ICE gasoil futures hit $1433.75 per tonne on Friday 10th June albeit on thin volume prior to the expiry of the front-month contract.
Issue 5 - 11 May'22
On top of post-COVID revenge demand, the world has witnessed Russia’s invasion of Ukraine and the impact that de facto sanctions have had on European gasoil/diesel balances, which have also benefited gasoil cracks around the world.
Issue 4 - 15 Apr'22
Over the course of March, the expectations on the role of US refineries in assisting Europe to supplant Russian output were largely disappointing.
Issue 3 - 4 Mar'22
Geopolitical Hurdles Threaten European Diesel Supply
Top of the Barrel
Top of the Barrel (ToB)
The Top of The Barrel report dives into the latest monthly developments for the world’s leading transportation fuel, gasoline, as well as for petrochemical feedstocks. Regular readers can comfortably navigate their way around this increasingly complex, but ever important segment of the market. Each month in each edition petrochemical feedstock demand is given its own dedicated coverage.
- ToB covers LPG, naphtha, and gasoline.
- Data and charts on all relevant aspects of demand, supply, balances, trade flows, and pricing
- Expert-level fundamental coverage and consistent model-driven projections in a succinct chart & bullet point style.
- Optional monthly data compilation is also available.
Issue 6 - 14 Jun'22
Light ends continue to see their fair share of volatility and unseen-before pricing dislocations as the re-arrangement of trade flows post-Ukraine invasion unfolds.
Issue 5 - 13 May'22
Demand takes a step lower against a worsening macroeconomic backdrop
Issue 4 - 16 Apr'22
Chinese lockdowns pressure demand at the top of the barrel
Issue 3 - 16 Mar'22
Gasoline demand goes from strength to strength despite higher pricing, while naphtha falls out of favor with steam crackers.
Barrel Data Compilation
Clients who subscribed to all four Barrel Series Reports, will receive this a special monthly Excel data sent out at no extra charge.
- Excel file containing our monthly supply, demand, and balance data for crude and products, split by region and sub-region
- Detailed refinery capacity and refinery operations data also included
- Forward demand cover and observed inventory data also provided
Having had the chance to cross paths with the work conducted by JBC Energy in several occasions, I could attest to the accurate statistics and information behind their work in the energy sector. Their high-quality indicators and reports regarding the energy market showcase both strong analytics and unbiased studies. Their expertise in the field aided by their extensive years in this domain make this research institute both well-grounded and reliable. I would recommend JBC Energy to anyone looking for thoughtful, measured and independent analysis of the energy markets worldwide.
- Adrian Jasimi, Oil Expert at Energy CommunityBenigni on Oil Markets, Issue 8 August 2019
In Issue 8 of our Benigni on Oil Markets report, we argued that the forward mogas vs diesel summer 2020 spread was completely undervalued on account of weakening gasoil/diesel and strengthening mogas in line with our IMO forecasts. Within a matter of weeks of our forecast, mogas began strengthening relative to gasoil over the relevant period.