Australia
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China
Published 25 Mar 2019
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Users licensed for the data service can access our China gas balances and gas imports data.Due to the Lunar New Year, the National Bureau of Statistics (NBS) publishes combined January-February output data in March but does not release separate January figures. This data review therefore discusse.. -
March 2019
Published 25 Mar 2019
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Fundamentals is our monthly review of global oil data, this is the March 2019 edition.Our Q1 19 crude oil balances are showing a 0.2 mb/d build, slightly higher than last month’s forecast by 0.1 mb/d, mainly as runs have come in weaker than expected amid rising unplanned outages. Regardless, this.. -
Japan
Published 19 Mar 2019
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Japanese LNG imports declined once more in February, by 0.94 Mt (11%) y/y to 7.35 Mt according to customs data. Given low imports in February, we estimate a reasonably healthy LNG storage draw of 0.32 Mt across that month. Indications of another light month for Japanese LNG imports in March, down.. -
Global LNG
Published 19 Mar 2019
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The bears remain in control of the global LNG market, with the plunging TTF largely matched by reductions at the JKM. While LNG demand has been soft, particularly the readings coming out of NE Asia for February, supply grew by 12% y/y last month, though it was down by 1% m/m. Looking further out,.. -
Australia oil data – January 2019
Published 15 Mar 2019
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Users licensed for the data service can access our Australian oil data.Australia’s oil product demand fell y/y for a second straight month in January, although only by 2 thousand b/d to just under 1.0 mb/d, the first sub-1 mb/d reading since October 2017. Gasoline demand fell.. -
Cut up
Published 11 Mar 2019
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Users licensed for the data service can access our global balances.The pullback in Chinese buying will continue to keep the physical market soft in the near term. However, Brent spreads have caught a bit of a bid, so positioning could overpower fundamentals for a short time. Our co.. -
December US NGL production up y/y, but Appalachian ethane sees m/m decline on low frac spread
Published 8 Mar 2019 by -
Global arbs and trade flows
Published 8 Mar 2019
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Users can access global trade flows data through our data service.February total seaborne loadings were down by 1.45 mb/d m/m to 44.97 mb/d as OPEC Middle Eastern producers continued to curtail exports, led by Saudi Arabia and the UAE, whose export volumes dropped by a combined 0.62 mb/d m/m.. -
IP week(ly): Paradoxical inversion
Published 4 Mar 2019
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Users licensed for the data service can access our global balances.IP week was dominated by talk about crude quality, specifically the dearth of heavy, medium sour crudes and the deluge of naphtha-rich light crudes. The tightness has been exacerbated by Venezuelan output declines,.. -
Fog rolls in
Published 4 Mar 2019
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Winter seems disinclined to loosen its grasp over LPG markets, particularly the heavier liquids. While inclement weather has delayed loadings, exacerbating supply shortages in Asia and the Mediterranean, the root cause of the lingering tightness is the Middle East. OPEC+ production cuts that bega.. -
Asian demand grew for most products in January except fuel oil
Published 28 Feb 2019 by -
Swing low
Published 28 Feb 2019
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The global gas market continued its soft start to 2019, with the JKM Mar-19 contract expiring at 7.3 $/mmbtu, compared to the 10.5 $/mmbtu at which it expired this time last year. While the LNG supply side has stayed strong so far this year, demand in Asia has started to slow. With NE Asian.. -
China
Published 26 Feb 2019
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Users licensed for the data service can access our China gas balances and gas imports data.Every year in January, due to the Lunar New Year, Chinese official data releases are limited to import and export figures issued by customs. As such, January data for domestic production and power generatio.. -
Global LNG
Published 26 Feb 2019
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As we expected at the start of the year, the global LNG market will see a raft of projects move to FID despite market pricing getting softer and softer. On the new projects front, this last week has seen Venture Global announce construction start on the 10.8 Mtpa Calcasieu Pass project, while Ana.. -
Fundamentals February 2019
Published 25 Feb 2019
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Fundamentals is our monthly review of global oil data, this is the February 2019 edition.Our Q4 18 balances deteriorated further this month as final demand readings came in shockingly low. Global oil demand fell y/y by 0.39 mb/d in December 2018 to 98.91 mb/d, around 1.1 mb/d lower than our preli..
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