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