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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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Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
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