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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, 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 ...
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 ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Australian Coal Association
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
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