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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, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
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Showing 1901 to 1905 news of total 6871 |
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- Malabar Cements Ltd - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- The University of Queensland
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
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