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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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Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
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Showing 1831 to 1835 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
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