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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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Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- The University of Queensland
- PTC India Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
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