Historically, October, November, and December are still pretty strong months for total product demand.
See the breakdowns of each category below:
October is the last month for relatively strong motor gasoline demand. Historically, the next 6 months after October see on average 350k bbls/d of lower gasoline demand.
Distillates, on the other hand, have entered the strongest demand season, where historically over the next 6 months the average demand is ~ 200k bbls/d higher than compared to Spring and Summer.
After the high summer travel season, the demand for jet fuel will slow. However, historically the next 3 months still demonstrated a relatively strong demand.
Lastly, as history shows the next 4/6 months will have the highest demand for other oils (including propane).
Actual physical cuts required by OPEC members from their August production numbers to meet their November quotas. The cuts should be even bigger when compared to September numbers which will be released on Oct 12.
https://twitter.com/Gugo907/status/1577951075050704897
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Comments
Great article, this Q4 is going bullish