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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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Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
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Showing 1956 to 1960 news of total 6871 |
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- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- White Energy Company Limited
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
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