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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, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
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