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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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Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
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Showing 1896 to 1900 news of total 6871 |
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- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Central Electricity Authority - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
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