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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
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