We have updated our commodity price forecasts, along with our company estimates, valuations, and select target prices and ratings.
Oil Markets: Announced OPEC+ group supply growth targets work against demand seasonality and recent unplanned supply outages. Our global supply-demand balancing assumptions have not changed dramatically on a net basis as a result. Consequently, our crude oil price deck moves modestly higher for benchmarks WTI and Brent in 2018, but remain unchanged in later years. Importantly, our assumptions concerning Canadian light sweet and heavy differentials were significantly widened, illustrating ongoing transportation bottlenecks within the Western Canadian Sedimentary Basin (WCSB).