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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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Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
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Showing 1896 to 1900 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
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