Product Demand Growth Succumbs to Economic Pressures in 2020

According to ESAI Energy’s recently released Two-Year Global Fuels Outlook, global demand for gasoline gasoil, jet fuel, kerosene, and fuel oil is expected to rise by a combined 770,000 b/d in 2019, following an increase of just 440,000 b/d this year. This acceleration will be driven primarily by a return to demand growth in China.
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As states gear up for elections and several others rush to meet the Centre’s electrification deadline, power demand is touching a new record every day. Meanwhile, failing to catch up, coal supply has dipped to a record low. According to an industry source, stocks at the coal pithead and power plants have touched an all-time
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Shanghai rebar steel futures inched up on Tuesday, buoyed by firm demand ahead of winter when construction usually slows in northern China due to frigid conditions and anti-pollution regulations. Stockpiles of steel products at Chinese traders fell by 370,000 tonnes to 10.3 million tonnes in the week to Oct. 19, according to data compiled by
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The World Steel Association (worldsteel) released its October 2018 Short Range Outlook (SRO). worldsteel projects global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9%* (please see *note below) over 2017. In 2019, it is forecast that global steel demand will grow by 1.4% to reach 1,681.2 Mt. Commenting on the outlook,
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The slowdown in Australian thermal coal trade to China is resulting in shipments of off-specification coal traveling longer distances to Europe and even Africa, according to an analysis of shipping data from cFlow, Platts trade flow software. “What is happening in China is having an impact further west,” a market source said. “There is some
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A gloomier world economic outlook and rising trade tensions have forced Drewry to downgrade its forecast for container demand over the next five years, according to the global shipping consultancy’s latest edition of the Container Forecaster. Drewry’s long-term supply and demand prognosis for carriers has deteriorated since the last report. Previously, the company’s global supply-demand
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China’s commodity imports may get a shot in the arm from Beijing’s decision to ease credit conditions in the world’s second-largest economy, but it may not be as big a boost as followed prior monetary loosening. The People’s Bank of China on Sunday announced a steep 100 basis point cut in the level of cash
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Freight rates for VLCCs making long-haul voyages east out of the US Gulf Coast and Caribbean continued to soar Monday, jumping $1 million in just two trading sessions as tonnage availability continued to wane, with an increased number of Asian buyers looking to cover cheaper US crude cargoes. “All of the Japanese and Korean charterers
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Panamax dry vessel rates have risen 7.5% over the past week, as tight domestic Chinese coal supply spurs import demand and Indian buyers also look to replenish stocks, participants said on Wednesday. The Baltic Panamax Index (BPI), which reflects the 60,000-80,000 deadweight tonne segment, was assessed last at 1,639 points, only marginally below 28 August’s
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Healthy economic growth will likely continue driving Asian oil and fuel demand growth in the coming decades, but the strong uptrend in international crude prices this year and the recent sharp depreciation in emerging market Asian currencies could hit regional consumer confidence in the short term, industry executives and market sources said Tuesday. Non-OECD and
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