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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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Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
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