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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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Wednesday, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
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