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