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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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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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Showing 2036 to 2040 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
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