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Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
 Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b. Crude futures also reached levels not seen since mid-2015. ICE Brent ended $2.13 higher at $57.65/b, while NYMEX WTI increased $1.72, reaching $51.59/b, keeping the Brent-WTI spread above $6/b. Prices have been supported by rising global demand data and expectations that major producing nations will extend a deal to adjust output and bring the oil market to a balance. Hedge funds raised net long positions in NYMEX WTI and ICE Brent futures and options by 29,456 and 21,592 contracts, respectively, to 281,244 and 530,237 lots. Brent and Dubai remained in backwardation, while the WTI contango eased. Sweet/sour differentials narrowed in Asia and Europe, but widened on the US Gulf Coast.
World Economy
The global economic growth dynamic has continued its momentum, with the forecast for 2017 revised up to 3.7%, from 3.6% in last month’s report. Similarly, the 2018 forecast has been adjusted higher as well to stand at 3.7%, compared to 3.5% in the previous month. Particularly OECD economic growth in 2017 was better than expected so far. The OECD is seen growing by upwardly revised 2.3% in 2017 and 2.2% in 2018. Good momentum – and a potential tax reform – in the US, the ongoing dynamic in the Euro-zone and to some extent in Japan, solid growth in China and India and an improving situation in Russia and Brazil are supporting the growth trend in the short-term.
World Oil Demand
World oil demand growth is expected to rise by 1.53 mb/d in 2017 after an upward adjustment of 74 tb/d to account for the better-than-expected performance of China in 3Q17. In 2018, world oil demand is foreseen reaching 1.51 mb/d, around 130 tb/d higher than in the previous assessment.
World Oil Supply
Non-OPEC oil supply is now projected to grow by 0.65 mb/d y-o-y in 2017, representing a downward revision of 0.02 mb/d from last month’s report. For 2018, growth in non-OPEC oil supply has also been revised down by 0.07 mb/d to stand at 0.87 mb/d. OPEC NGLs and non-conventional liquids are expected to grow by 0.18 mb/d in 2018, following an increase of 0.17 mb/d in 2017. In October 2017, OPEC crude oil production decreased by 151 tb/d, according to secondary sources, to average 32.59 mb/d.
Product Markets and Refining Operations
Product markets in the Atlantic Basin weakened in October due to seasonally-lower gasoline demand following the end of US driving season. Nonetheless, US refining margins have exhibited some improvement y-o-y on the back of firm product demand and amid low stock levels. In Europe, solid middle-of-the-barrel demand offset weakness at the top and bottom. Product markets in Asia also weakened slightly, but remained at healthy levels, supported by the onset of refinery maintenance.
Tanker Market
Sentiment in the dirty tanker market generally strengthened in October, as freight rates for different classes showed improvements on most major trading routes. Average dirty tanker spot freight rates rose 16% compared to the previous month, on the back of improved seasonal tonnage demand, as well as port and weather delays, among other factors. Despite healthy gains in October, the shipping market remains in surplus, capping further increases in spot freight rates. Meanwhile, clean tanker freight rates experienced a relative decline, although remaining above the levels of the same month last year.
Stock Movements
Total OECD commercial oil stocks fell in September to stand at 2,985 mb. At this level, OECD commercial oil stocks are 154 mb above the latest five-year average. Crude and products stocks indicated a surplus of around 129 mb and 25 mb, respectively, above the seasonal norm. In terms of days of forward cover, OECD commercial stocks stood at 62.3 days in September, some 1.9 days higher than the latest five-year average.
Balance of Supply and Demand
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 33.0 mb/d, around 0.71 mb/d higher than in 2016. OPEC crude in 2018 is estimated at 33.4 mb/d, about 0.46 mb/d higher than in 2017.
Source: OPEC
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Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
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