We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
 The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effectiveness of sanctions against Iran and Venezuela. Production by OPEC countries in March was 2.2 mb/d lower than in November and now there is uncertainty concerning Libya. Production by non-OPEC producers in 1Q19 was 0.7 mb/d lower than in 4Q18. This turnaround in supply has contributed to a dramatic increase in prices, with Brent crude rising from $50/bbl at the end of December to more than $70/bbl today.
Tightness in the oil market, however, is not just a supply story. In recent months, the resilience of demand has received less attention than the vicissitudes of production, but it is very important too. Data for 2018 is still incomplete but we can be confident that demand growth was about 1.3 mb/d. As far as 2019 is concerned, amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be. We maintain our forecast of 1.4 mb/d, but accept that there are mixed signals about the health of the global economy, and differing views about the likely level of oil prices.
In terms of real numbers for 2019, although it is still early days the major centres of oil demand growth are performing strongly. In China, the economy seems to be reacting to the government’s stimulus measures with purchasing managers’ indices increasing and export orders recovering, although there are signs that air cargo volumes might be falling. Preliminary oil demand numbers for the January-February period show solid growth of 410 kb/d year-on-year. Elsewhere, demand was strong in the same period, with India growing by 300 kb/d, and the US, which continues to be supported by the petrochemical sector, by 295 kb/d.
Although the main sources of growth are doing well, there are mixed signals from elsewhere. Overall demand in the OECD countries fell by 0.3 mb/d y-o-y in 4Q18, the first such fall for any quarter since the end of 2014, and it is likely to have fallen again in 1Q19 due to weakness in some European economies, with perhaps more to come if there is a disorderly Brexit. There are uncertainties in Argentina and Turkey and signs of only modest demand recovery in the Middle East despite the stimulus provided by rising crude oil prices. Concerns about trade talks linger, and the mood will be influenced by the recent downgrade to global GDP growth by the International Monetary Fund, although it should be noted that the IMF does not expect a recession in the near term. Clearly, oil prices at $70/bbl for Brent, are less comfortable for consumers than they were at the start of the year and the IEA has regularly warned of the dangers of prices rising even higher. Only time will tell if our current demand forecast proves accurate, but the risks are currently to the downside.
When the first Vienna Agreement to cut oil production was made in 2017, progress was measured by total OECD stocks falling to the five-year average level. The second Agreement is underway, and data for February show that stocks are above the average by 16 mb. However, in terms of days of forward demand cover, which is a more relevant assessment, they are below it, and have been for some time. Incidentally, it is worth mentioning middle distillate stocks, particularly in light of January’s implementation of new International Maritime Organisation fuel specifications. If half the increase in marine gasoil demand resulting from the regulations were in OECD countries, about 540 kb/d, current middle distillate stocks would represent 29.3 days of forward cover, about 3.5 days below the average.
The oil market shows signs of tightening as we move into 2Q19, but we see mixed signals in terms of the outlook for demand and whether stock levels are yet “normal”.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
|
|
|
Showing 2151 to 2155 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
|
| |
| |
|
