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Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude futures also declined on concerns about growing oil output and high crude inventories in the US. ICE Brent ended 6.2% lower at $52.54/b, while NYMEX WTI decreased 7.1% to $49.67/b. The BrentWTI spread widened to $2.86/b, supporting US crude oil exports. Hedge funds liquidated their large net long positions in crude, contributing to the sharp drop in oil prices.
World Economy
The momentum in global economic growth has been improving resulting in an upward revision in the 2017 forecast to now stand at 3.3% from 3.2% previously, while growth for 2016 remains at 3.0%. OECD growth in 2017 remains at 1.9%, with the US and Euro-zone seeing no revisions. Japan’s 2017 growth forecast was revised up to 1.2% from 1.1% previously. China’s 2017 growth was also revised higher to 6.3% from 6.2%, while India’s forecast remains at 7.0%. Russia’s 2017 growth was revised up to 1.2% from 1.0%, while the forecast for Brazil is unchanged at 0.5%.
World Oil Demand
World oil demand growth in 2016 was kept broadly unchanged at 1.38 mb/d, averaging 95.05 mb/d. For 2017, oil demand growth is anticipated to be around 1.27 mb/d, following an upward revision of 10 mb/d to average 96.32 mb/d. The ‘Other Asia’ group – which includes India – is anticipated to lead oil demand growth in 2017, followed by China and OECD Americas. OECD Asia-Pacific is the only region anticipated to see a decline in oil demand in 2017.
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 57.32 mb/d in 2016, representing a contraction of 0.69 mb/d y-o-y following a minor downward revision of 30 tb/d. In 2017, non-OPEC oil supply is projected to grow by 0.58 mb/d, following an upward revision of 176 tb/d due to higher than expected growth in the US and lesser contractions in Colombia and China, to average 57.89 mb/d. The US supply growth forecast was revised up by 0.20 mb/d to stand at 0.54 mb/d. OPEC NGLs and non-conventional oil production is forecast to grow by 0.13 mb/d in 2017, following growth of 0.14 mb/d in 2016. In March, OPEC production decreased by 153 tb/d, according to secondary sources, to average 31.93 mb/d. Product Markets and
Refining Operations
Product markets exhibited a mixed performance in the Atlantic Basin, as the lack of export opportunities for gasoline amid increasing inflows of middle distillates impacted the European market. Meanwhile, stronger domestic gasoline demand in the US ahead of the transition to summer grades lent strong support to refinery margins. In Asia, the lack of arbitrage amid increasing inflows into the region weighed on the market despite the onset of the spring refinery maintenance season.
Tanker Market
The tanker market showed a mixed pattern in March. VLCCs exhibiting an average decline of 23% m-o-m in spot rates on its various trading routes, as the tonnage availability remained abundant. In contrast, Suezmax and Aframax rates increased m-o-m by 13%, and 6%, respectively, mainly due to transit delays in the Turkish Straits, discharge delays in the east, and occasional tightening in tonnage supply. The market experienced higher monthly freight rates for clean tankers on most reported routes.
Stock Movements
Total OECD commercial oil stocks fell in February to 2,987 mb to now stand 268 mb above the latest five years average. Crude and product stocks indicated a surplus of around 227 mb and 41 mb, respectively. In terms of days of forward cover, OECD commercial stocks stood at 64.2 days, some 4.6 days higher than the latest five-year average Balance of Supply and Demand
Demand for OPEC crude in 2016 now stands at 31.7 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected at 32.2 mb/d, around 0.6 mb/d higher than the 2016 level.
Source: OPEC
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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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Showing 2036 to 2040 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
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