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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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Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
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- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
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