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Chinese LPG demand flat y/y in June as trade tensions slow pace of growth
- LPG and NGLs
- E-mail alert
Published 30 Jul 2019 by
- Michele Lewis
China
Published 29 Jul 2019 by
- Trevor Sikorski
The combination of a macroeconomic slowdown, the lack of a binding target on coal-to-gas switching, and less supportive weather continues to drag on Chinese natural gas demand growth, colouring gas market expectations. While demand is disappointing to the downside, domestic supply growth continue..
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Weekly North American NGLs update: C4 to the floor
- LPG and NGLs
- E-mail alert
Published 25 Jul 2019 by
- Samantha Hartke
- Stefan Ulrich
Global supply trends
Published 24 Jul 2019 by
- Trevor Sikorski
LNG supply posted another healthy y/y gain of 2.7 Mt in July, albeit the smallest increment since February. Still, H1 19 numbers are up by 23.7 Mt y/y, and Q3 19 numbers should start to benefit from ramping up at new terminals, with the 4.0 Mt Cameron T1, the 3.6 Mtpa Prelude and the 4.5 Mtpa Cor..
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Fundamentals July 2019
- Oil
- Fundamentals
Published 23 Jul 2019 by
- Amrita Sen
- Virendra Chauhan
- Michele Lewis
- Koen Wessels
- George Dix
- Richard Mallinson
- Christopher Haines
Fundamentals is our monthly review of global oil data, this is the July 2019 edition. Crude oil balance: Our Q2 19 crude oil balance dropped from a 0.1 mb/d build in our June Fundamentals publication to flat for the quarter. Throughout the quarter, various data points had indicated sizable stock..
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Japan
Published 18 Jul 2019 by
- Jane Rangel
Please note that users licensed for the data service can access our Japanese gas balances and energy imports data. Japanese LNG imports fell by 0.35 Mt (6%) y/y to 5.2 Mt in June, marking the fifth month of y/y drops so far this year. Higher nuclear capacity has been the main bearish driver on Ja..
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Global arbs and trade flows
- Global arbs and trade flows
- Outlook
Published 15 Jul 2019 by
- Amrita Sen
- Christine Armstrong
- Stephen Wolfe
- William Claeyssens
- Christopher Haines
- Richard Mallinson
Users can access global trade flows data through our data service. Waterborne exports are unlikely to rise substantially from current levels after OPEC ministers agreed to roll over their share (0.8 mb/d) of the existing 1.2 mb/d OPEC+ cut for nine months, while Russian production will remai..
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Fragile market: handle with care
- Oil
- Perspectives
Published 15 Jul 2019 by
- Amrita Sen
Brent prices are stuck around $65—the supply issues make it risky to short crude at current prices, but demand concerns are a barrier to the market going long. For us, an improvement in the macroeconomic picture is a precondition to restoring confidence in the oil market. Supply has done as..
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Australia oil data – May 2019
Published 12 Jul 2019 by
- Nevyn Nah
Australia’s oil product demand fell y/y for the sixth straight month, by 34 thousand b/d to 1.06 mb/d. May’s decline was the largest in the past 25 months and was driven again by weakness in gasoline (-11 thousand b/d y/y). Slowing wage growth and falling home prices are eroding spend..
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Strait jacket
- LPG and NGLs
- Outlook
Published 3 Jul 2019 by
- Robert Campbell
- Samantha Hartke
- Michele Lewis
- Nevyn Nah
The 13 June tanker attacks in the Strait of Hormuz and the subsequent escalation of tensions between the US and Iran represent a risk for Middle East LPG and naphtha exports. Light ends fundamentals are otherwise bearish, but with over 1 mb/d of LPG and nearly 0.8 mb/d of naphtha moving through t..
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Why reload?
Published 2 Jul 2019 by
- Trevor Sikorski
Please note that users licensed for the data service can access LNG freight rates by clicking here. With the outlook for the TTF no more constructive than it was last week, the remainder of summer 2019 will be marked by gas hunting for storage capacity to fill. With EU storage filling rapidly, th..
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Crazy high supply
Published 28 Jun 2019 by
- Trevor Sikorski
The extremely high levels of LNG supply into the market continue, though the expected new terminals have yet to make an impact in 2019. While we have often discussed the supply side this year, the much-anticipated new trains have finally started to make an appearance, with Australia’s 3.6 M..
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Asian demand continued to fall in May, the steepest y/y decline since May 2014
Published 28 Jun 2019 by
- George Dix
Global supply trends
Published 26 Jun 2019 by
- Trevor Sikorski
LNG supply continued to post healthy y/y gains of around 4.8 Mt in May, although sequential gains have been hard to come by since the start of the year. While summer numbers will always be moderated by planned maintenance, Q3 19 numbers could start to benefit from first exports from the 4.0 Mt Ca..
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Fundamentals June 2019
- Oil
- Fundamentals
Published 24 Jun 2019 by
- Amrita Sen
- Virendra Chauhan
- Richard Mallinson
- William Claeyssens
- Christopher Haines
- Michele Lewis
- Koen Wessels
- George Dix
Fundamentals is our monthly review of global oil data, this is the June 2019 edition. Crude oil balance: Our Q1 19 crude oil balance has flipped from a small draw in last month’s Fundamentals, to a 0.1 mb/d build. The swing was predominantly driven by North American supply, with production..
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