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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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Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
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