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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- Attock Cement Pakistan Limited
- Australian Coal Association
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
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