Weekly and monthly reports with analysis of regional crude oil, and petroleum markets. Expert level coverage of markets in the Mediterranean, Asia, the Former Soviet Union (FSU), and the Americas. Reports focus on price development, supply and demand drivers, imports and exports, trade flows as well as geopolitics, and wider energy issues.
The Med Oil Weekly compiles all the most important news and developments from the prior week, breaking down fundamentals driving the crude and product markets
- Short-term outlook on regional crude differentials, with a focus on Urals, North Sea Dated and WTI delivered to Europe
- Product-by-product breakdown of movement in cracks over the reporting week, with our outlook for the weeks ahead
- INCLUDES: Relative incentive calculations of refining regional crude; refinery maintenance updates; crude intake and balance figures and many more!
Road fuel demand recovery might not happen fast enough for refiners to tap into current multi-month high reforming margins.
US cold spell sends ripples through European crude and product markets
Med naphtha eases over the week, but all signals point towards renewed tightness in the weeks ahead before increases in crude intake increase prompt supply
In spite of rising OSPs, Saudi crude remains very competitive vs Urals in NWE and the Med.
Short on time? The Med Oil Monthly report catches you up on the developing stories of the month in the Med and North Sea, combined with our outlook for the month ahead.
- Analysis of monthly movement in product cracks and crude differentials
- Ideal for those with a busy schedule and interested in our main takeaways from the month prior
- Combine with the Med Oil Weekly to gain a better understanding of how smaller developments are likely to affect the bigger picture
The effects of the US big freeze trickle down to the Med, boosting mostly light end cracks
While high carryover maintenance from 2020 supported margins over year-end, lockdown extensions in Europe are starting to weigh down on margins.
Market optimism sees prices rally despite rising Libyan supply
Improving refining margins in October proved to be short-lived
Timely, informative and concise data, coupled with insightful commentary on the most recent events in crude and product markets across North, Central and South America
- Analysis of trends in the US market in light of weekly EIA inventory data
- Chart-heavy analysis of supply fundamentals and crude markets, as well as processing and product markets
- Each issue includes a bonus article on a special topic, from trade flows and supply to demand or natural gas
US crude supply eased to just over the 11 million b/d mark in December and while a return of fracking crews is a positive signal, figures do not yet point towards sustainable growth. US imports from Canada continued apace in December, although we suspect flows to have slowed in Q1-2021 so far.
The frac fleet count fell to a record low level of 41 in the week ending 19 February as low temperatures hit, while the rig count halted its previous 12 consecutive week increases. Nevertheless, with the EIA’s Drilling Productivity Report coming in higher than expected and flat price rebound to $60 per barrel, our shale outlook has remained more or less unchanged.
The pace of the demand recovery in North America has continued to be slow, and while some green shoots are visible in Brazil and Argentina towards the end of 2020, we see the upside there remaining limited for the time being.
Henry Hub has not joined the bull party in global hub prices, but some support appears to be on the cards.
Taking a deep dive into the intricacies of the FSU market, our analysts share their valuable and original investigations, all while looking at how this influences the bigger picture
- Profound understanding of the frequently changing Russian taxation and incentive system for the refining, upstream and trading industries
- A focus on corporate news with in-depth knowledge on how geopolitical and strategic issues drive fundamentals in the region
- Includes supply, demand and export projections based on our in-house modelling, country profiles, Urals quality analysis, pipeline logistics
The shifting product yields in Russia in February are masking a sizeable product supply developments.
Urals will increasingly attract more attention from (complex) refiners.
Why did HSSR premiums tick higher lately even though supply is on the rise?
Gazprom is to enjoy continuous strength in gas exports in the near term (and probably beyond).
The Asian Oil Monthly delivers one monthly report which rounds up the most pressing issues of the month with our outlook for one month forward. Also enjoy access to JBC Energy Asian Insights daily.
- Access to a regular stream of our analysis on the latest data, price movements, and relevant news pieces from the region as it happens
- Detailed fundamental data and analysis on East of Suez markets, including the Middle East delivered to you once a month
Support for mogas/diesel spreads is only temporary
China's crude inventory draw amounted to 1.4 million b/d in December.
The Asian market is outperforming Europe on stronger Demand.
The HSFO crack rally looks increasingly fragile amid deteriorating conversion margins.
The Asian Oil Weekly delivers short-term updates on developments in the Asian crude and products markets, with expert-led analysis feeding into a short-term outlook for the weeks ahead.
- Instant analysis of weekly data from all the major Asian economies (PPAC, PAJ), which feed into our extensive modelling.
- Discussion of hot topic issues including how regulatory changes will drive these developing economies
Crude quality spreads blow out
Refiners need to remain patient with regards to run rates and should wait for sustainable return of demand in the Atlantic Basin.
Asia is currently undergoing a renewed phase of downward pressure, but we expect to see a return of demand above its 2019 baseline in Q2.
Capacity additions already start to negate some of the consolidation that took place last year