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Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude futures also declined on concerns about growing oil output and high crude inventories in the US. ICE Brent ended 6.2% lower at $52.54/b, while NYMEX WTI decreased 7.1% to $49.67/b. The BrentWTI spread widened to $2.86/b, supporting US crude oil exports. Hedge funds liquidated their large net long positions in crude, contributing to the sharp drop in oil prices.
World Economy
The momentum in global economic growth has been improving resulting in an upward revision in the 2017 forecast to now stand at 3.3% from 3.2% previously, while growth for 2016 remains at 3.0%. OECD growth in 2017 remains at 1.9%, with the US and Euro-zone seeing no revisions. Japan’s 2017 growth forecast was revised up to 1.2% from 1.1% previously. China’s 2017 growth was also revised higher to 6.3% from 6.2%, while India’s forecast remains at 7.0%. Russia’s 2017 growth was revised up to 1.2% from 1.0%, while the forecast for Brazil is unchanged at 0.5%.
World Oil Demand
World oil demand growth in 2016 was kept broadly unchanged at 1.38 mb/d, averaging 95.05 mb/d. For 2017, oil demand growth is anticipated to be around 1.27 mb/d, following an upward revision of 10 mb/d to average 96.32 mb/d. The ‘Other Asia’ group – which includes India – is anticipated to lead oil demand growth in 2017, followed by China and OECD Americas. OECD Asia-Pacific is the only region anticipated to see a decline in oil demand in 2017.
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 57.32 mb/d in 2016, representing a contraction of 0.69 mb/d y-o-y following a minor downward revision of 30 tb/d. In 2017, non-OPEC oil supply is projected to grow by 0.58 mb/d, following an upward revision of 176 tb/d due to higher than expected growth in the US and lesser contractions in Colombia and China, to average 57.89 mb/d. The US supply growth forecast was revised up by 0.20 mb/d to stand at 0.54 mb/d. OPEC NGLs and non-conventional oil production is forecast to grow by 0.13 mb/d in 2017, following growth of 0.14 mb/d in 2016. In March, OPEC production decreased by 153 tb/d, according to secondary sources, to average 31.93 mb/d. Product Markets and
Refining Operations
Product markets exhibited a mixed performance in the Atlantic Basin, as the lack of export opportunities for gasoline amid increasing inflows of middle distillates impacted the European market. Meanwhile, stronger domestic gasoline demand in the US ahead of the transition to summer grades lent strong support to refinery margins. In Asia, the lack of arbitrage amid increasing inflows into the region weighed on the market despite the onset of the spring refinery maintenance season.
Tanker Market
The tanker market showed a mixed pattern in March. VLCCs exhibiting an average decline of 23% m-o-m in spot rates on its various trading routes, as the tonnage availability remained abundant. In contrast, Suezmax and Aframax rates increased m-o-m by 13%, and 6%, respectively, mainly due to transit delays in the Turkish Straits, discharge delays in the east, and occasional tightening in tonnage supply. The market experienced higher monthly freight rates for clean tankers on most reported routes.
Stock Movements
Total OECD commercial oil stocks fell in February to 2,987 mb to now stand 268 mb above the latest five years average. Crude and product stocks indicated a surplus of around 227 mb and 41 mb, respectively. In terms of days of forward cover, OECD commercial stocks stood at 64.2 days, some 4.6 days higher than the latest five-year average Balance of Supply and Demand
Demand for OPEC crude in 2016 now stands at 31.7 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected at 32.2 mb/d, around 0.6 mb/d higher than the 2016 level.
Source: OPEC
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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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Showing 1811 to 1815 news of total 6871 |
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- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- White Energy Company Limited
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
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