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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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Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
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Showing 1946 to 1950 news of total 6871 |
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- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- PTC India Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
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