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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, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
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Showing 1846 to 1850 news of total 6871 |
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- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
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