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