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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
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