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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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Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
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Showing 1861 to 1865 news of total 6871 |
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- Economic Council, Georgia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Australian Coal Association
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
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