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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, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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Showing 1886 to 1890 news of total 6871 |
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- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
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