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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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Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- VISA Power Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
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