The Argus Fundamentals service provides monthly intelligence on crude and refined products supply and demand, both historically and up to two years ahead.

The service covers key developments on crude and products stocks and trade flows, and our subscribers include major oil companies, refineries, trading firms, banks and government agencies.

Drawing on Argus' daily oil price reporting expertise, this service features in-depth analysis of the key trends affecting supply and demand, inventories and trade flows.

Key features


Supply and demand balances

Global oil supply and demand balances going two years ahead.



Two-year forecast for oil supply and demand by key region/country and by key product category.


In-depth analysis

In-depth analysis of key trends affecting supply and demand, inventories and trade flows.


Historical data

Historical data for demand, refinery runs, refinery production and refined product imports/exports data for key countries across the globe.


Monthly PDF report

The service includes a regular PDF analysing market developments and summarising key datasets.

Customers that benefit

The Argus Fundamentals service is of particular interest to anyone seeking a comprehensive short-term forecast of supply and demand of crude and petroleum products. Below are examples of how some clients use this service:
  • Oil and gas producers 

    Find unbiased information on supply and demand to inform their exploration and production activities and investment decisions. 

  • Pipeline companies

    Prepare for future projects by considering the data that we publish.
  • Government agencies

    Rely on our outlooks as a key part of a holistic view of oil markets.