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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, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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Showing 1666 to 1670 news of total 6871 |
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- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Australian Coal Association
- PTC India Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- The University of Queensland
- London Commodity Brokers - England
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
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