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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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Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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Showing 1626 to 1630 news of total 6871 |
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- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
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