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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, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
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