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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, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
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