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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
 Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s outcome is a psychological blow for the market, as the steep plunge in oil prices shows.
“And the market is now facing the spectre of unrestrained production once the current OPEC+ agreement expires in March.
“However, we do not think Saudi Arabia will push hard to lift their output in the northern hemisphere spring.
“Given weak demand and the likelihood this weakness will persist into the second quarter, it will be hard for any producer to increase their output sharply once the original production deal expires at the end of this month.”
Demand risks
She added: “One factor to bear in mind is that the plunge in demand we saw in Q1 was created by circumstances in China. The country’s coronavirus (Covid-19) containment measures have been far more stringent than those imposed anywhere else, and are not likely to be copied elsewhere.
“The lack of a production deal carries risk. This would become apparent if global economic growth weakens and oil demand continues to contract more sharply than expected thanks to the double whammy of coronavirus containment measures and falling GDP.”
Hittle said: “Our current projection sees global liquids demand fall by 2.7 million b/d year-on-year in the first quarter of 2020, the first year-on-year decline on a quarterly basis since Q2 2009.
“It is the most severe decline since Q4 2008, the height of the 2008-2009 global economic crisis, which saw demand tumble by 2.8 million b/d year-on-year.”
Hittle said: “If the impact the coronavirus has had on global oil demand is sustained, then by the second half of the year we’d expect to see weaker GDP. This will have a far greater impact on oil demand than just temporary reductions in jet fuel and gasoline demand.
“A longer, sustained outbreak of coronavirus threatens to hit oil demand with a double whammy: already weak demand will soften further because of containment measures, and this will weaken GDP.”
What next?
What does this mean for OPEC and OPEC+? It would mean that the group would likely need to monitor economic indicators closely. It may even mean that they could be forced to call an emergency meeting during the second quarter.
She added: “A sustained bout of low oil prices will further reduce cash flow and investment into the US oil patch, causing further hits to Lower 48 production growth later this year. It takes at least six to nine months for reductions in spend to lead to lower oil production in the US Lower 48.
“In that time, their access to capital may be limited and their free cash flow badly hit.
“The only silver lining in a very dark cloud is for refining – the sector will be hit hard by weak demand, but it is at least saved from tightening crude differentials associated with a major cut in OPEC supplies.”
Source: Wood Mackenzie
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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- White Energy Company Limited
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
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