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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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Showing 1606 to 1610 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- White Energy Company Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
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