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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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- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- The University of Queensland
- VISA Power Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
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