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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 highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b. Crude futures also reached levels not seen since mid-2015. ICE Brent ended $2.13 higher at $57.65/b, while NYMEX WTI increased $1.72, reaching $51.59/b, keeping the Brent-WTI spread above $6/b. Prices have been supported by rising global demand data and expectations that major producing nations will extend a deal to adjust output and bring the oil market to a balance. Hedge funds raised net long positions in NYMEX WTI and ICE Brent futures and options by 29,456 and 21,592 contracts, respectively, to 281,244 and 530,237 lots. Brent and Dubai remained in backwardation, while the WTI contango eased. Sweet/sour differentials narrowed in Asia and Europe, but widened on the US Gulf Coast.
World Economy
The global economic growth dynamic has continued its momentum, with the forecast for 2017 revised up to 3.7%, from 3.6% in last month’s report. Similarly, the 2018 forecast has been adjusted higher as well to stand at 3.7%, compared to 3.5% in the previous month. Particularly OECD economic growth in 2017 was better than expected so far. The OECD is seen growing by upwardly revised 2.3% in 2017 and 2.2% in 2018. Good momentum – and a potential tax reform – in the US, the ongoing dynamic in the Euro-zone and to some extent in Japan, solid growth in China and India and an improving situation in Russia and Brazil are supporting the growth trend in the short-term.
World Oil Demand
World oil demand growth is expected to rise by 1.53 mb/d in 2017 after an upward adjustment of 74 tb/d to account for the better-than-expected performance of China in 3Q17. In 2018, world oil demand is foreseen reaching 1.51 mb/d, around 130 tb/d higher than in the previous assessment.
World Oil Supply
Non-OPEC oil supply is now projected to grow by 0.65 mb/d y-o-y in 2017, representing a downward revision of 0.02 mb/d from last month’s report. For 2018, growth in non-OPEC oil supply has also been revised down by 0.07 mb/d to stand at 0.87 mb/d. OPEC NGLs and non-conventional liquids are expected to grow by 0.18 mb/d in 2018, following an increase of 0.17 mb/d in 2017. In October 2017, OPEC crude oil production decreased by 151 tb/d, according to secondary sources, to average 32.59 mb/d.
Product Markets and Refining Operations
Product markets in the Atlantic Basin weakened in October due to seasonally-lower gasoline demand following the end of US driving season. Nonetheless, US refining margins have exhibited some improvement y-o-y on the back of firm product demand and amid low stock levels. In Europe, solid middle-of-the-barrel demand offset weakness at the top and bottom. Product markets in Asia also weakened slightly, but remained at healthy levels, supported by the onset of refinery maintenance.
Tanker Market
Sentiment in the dirty tanker market generally strengthened in October, as freight rates for different classes showed improvements on most major trading routes. Average dirty tanker spot freight rates rose 16% compared to the previous month, on the back of improved seasonal tonnage demand, as well as port and weather delays, among other factors. Despite healthy gains in October, the shipping market remains in surplus, capping further increases in spot freight rates. Meanwhile, clean tanker freight rates experienced a relative decline, although remaining above the levels of the same month last year.
Stock Movements
Total OECD commercial oil stocks fell in September to stand at 2,985 mb. At this level, OECD commercial oil stocks are 154 mb above the latest five-year average. Crude and products stocks indicated a surplus of around 129 mb and 25 mb, respectively, above the seasonal norm. In terms of days of forward cover, OECD commercial stocks stood at 62.3 days in September, some 1.9 days higher than the latest five-year average.
Balance of Supply and Demand
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 33.0 mb/d, around 0.71 mb/d higher than in 2016. OPEC crude in 2018 is estimated at 33.4 mb/d, about 0.46 mb/d higher than in 2017.
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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- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Indian Energy Exchange, India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
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