| Brazil Economy - June 2013 |
6/19/2013 - Brazil’s fiscal policy is expected to become more expansionary with the country’s electoral cycle. Tax breaks, however, will hamper the primary surplus target achievement (currently set at 3.1% of GDP...
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| Middle East Oil Supply - June 2013 |
6/19/2013 - Middle East oil production is estimated to average 1.43 mb/d in 2013, a decrease of 70 tb/d from 2012 and indicating a downward revision of 60 tb/d from last month. This revision comes from Syria, whe...
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| US Stock Movements |
6/18/2013 - Preliminary data for May shows that US total commercial oil stocks rose by 15.5 mb, for the third consecutive month to stand at 1,115.1 mb. With this build, inventories stood at 17.5 mb or 1.6% above ...
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| China Oil Trade - May 2013 |
6/18/2013 - China’s crude oil imports increased in April by 189 tb/d, or 3.5%, from the previous month, to average 5.6 mb/d, despite lower refining levels. On an annual comparison, China’s crude imports increased...
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| US Product Markets and Refinery Operations |
6/17/2013 - US gasoline demand stood at around 8.7 mb/d in May, 230 tb/d higher than the previous month, but down by around 270 tb/d from the same month a year earlier. The downward trend in gasoline cracks seen ...
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| Africa Oil Supply in June 2013 |
6/17/2013 - Africa’s oil supply is forecast to average 2.38 mb/d in 2013, an increase of 70 tb/d from 2012, flat from the previous MOMR. Despite the steady state, there were few upward and downward revisions that...
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| Japan Oil Trade in May 2013 |
6/16/2013 - Japan crude oil imports saw a large decline in April by around 480 tb/d or 11% to average 3.7 mb/d. This decline was a fallback after the increase in March. On a y-o-y comparison, crude imports saw a ...
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| Caspian and China Oil Supply – May 2013 |
6/12/2013 - Oil production from Kazakhstan is forecast to average 1.66 mb/d in 2013, an increase of 70 tb/d over the previous year, indicating a downward revision of 10 tb/d compared to the previous MOMR. The dow...
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| FSU and Russia Oil Supply – May 2013 |
6/11/2013 - Total FSU oil production is expected to increase by 0.10 mb/d to average 13.40 mb/d in 2013, indicating a downward revision of 10 tb/d from the last MOMR. The downward revision was introduced due to c...
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| Asia Developing Countries Oil Supply – May 2013 |
6/10/2013 - Total Developing Countries (DCs) oil output is expected to average 12.34 mb/d in 2013, representing an increase of 0.20 mb/d and a minor downward revision of 10 tb/d from the last report. The supply f...
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| The First BRICS Summit in Africa |
6/9/2013 - The first BRICS summit in Africa in Durban on 27 March reached decisions on three main issues:
1- Establishment of a BRICS bank facilitating trade between the BRICS economies and also at an internati...
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| Asian Developing Countries Oil Demand in May 2013 |
6/8/2013 - In March 2013, India’s oil demand returned back to normal growth at 2.1% y-o-y. All product requirements grew y-o-y, with the exception of jet fuel/kerosene and fuel oil, which fell 3% and 4%, respect...
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| Asia Pacific Economy in May 2013 |
6/8/2013 - The growth pattern in Asia Pacific is mixed, with some economies experiencing a clear deceleration in 1Q13, such as Taiwan, while others softened only slightly, like Indonesia, and some expanded, for ...
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| Investment Flows into Commodity Markets in April 2013 |
6/7/2013 - The total open interest volume (OIV) in major commodity markets in the US increased by over 2.4% m-o-m, for the fourth consecutive month, to 8.9 mn contracts in April, adding to the 1.2% rise in Febru...
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| Oil Prices, US Dollar & Inflation |
6/6/2013 - The US dollar in April declined slightly against all major currencies, with the exception of the yen. It fell by 0.5% versus the euro, 1.1% compared to the Swiss franc, 1.5% against the pound sterling...
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| India Economy – May 2013 |
6/5/2013 - After several false starts, the government undertook a series of reforms beginning in September 2012 to tackle the burgeoning fiscal deficit and create new jobs. In late February, the government prese...
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| The Crude Oil Futures Market Structure |
6/4/2013 - The ICE Brent inter-month spread continued to weaken over April, flipping into contango for most of the month. Ample North Sea crude availability and high levels of regional maintenance have put the p...
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| China Oil Demand in May 2013 |
6/3/2013 - The growth in China’s oil demand in March fell by just 2% y-o-y, the lowest percentage seen since August 2012. This was a result of a slowdown in economic growth, mainly affecting industrial fuel dema...
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| The Crude Oil Futures Market |
6/2/2013 - Crude oil futures saw a substantial drop again in April, with Brent falling 5.6% to July 2012 levels with a monthly average of around $103/b. Nymex WTI posted a much smaller loss of only 1% to average...
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| Africa Economy – May 2013 |
6/1/2013 - The African economy is continuing to expand quickly. In North Africa, the economy in Tunisia is expected to register a growth of 2.8% this year, compared with 2.5% in 2012, related mainly to a rebound...
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| US Economy – May 2013 |
5/31/2013 - The US economy is currently enjoying some positive momentum in its underlying economy. Wealth creation factors in the labour market, the housing sector and the equity market have turned out to be rela...
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| OPEC Member Countries Economy – May 2013 |
5/30/2013 - At first glance, last year was one of robust growth for OPEC Member Countries. Growth averaged about 5.3% in 2012 and is expected to continue at a somewhat slower pace in 2013 at around 4.2%. However,...
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| US Product Markets and Refinery Operations – April 2012 |
5/29/2013 - US gasoline demand stood at around 8.5 mb/d in April, a level similar to that of the previous month, but down by around 300 tb/d from the same month a year earlier. The gasoline cracks lost the ground...
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| Russia Economy – May 2013 |
5/29/2013 - The 2012 federal budget recorded a small deficit of Rb37bn (US$1.2bn), equal to 0.1% of the GDP. Excluding oil and gas revenue, the deficit expanded to 10.6% of the GDP, up from 9.5% of the GDP in 201...
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| Forecast for Balance of Supply and Demand for 2013 |
5/28/2013 - Demand for OPEC crude in 2013 has been revised up by 0.1 mb/d from the previous report to stand at 29.8 mb/d. This represents a decline of 0.4 mb/d, compared to a year earlier. The upward revision cam...
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| OECD Pacific Oil Demand in May 2013 |
5/27/2013 - In Japan, March 2013 oil demand fell by 7.4% y-o-y as a result of milder weather leading to lower requirements for kerosene. A decline in petroleum product use in the power sector also affected Japane...
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| Africa Oil Supply - May 2013 |
5/26/2013 - Africa’s oil supply is forecast to increase by 70 tb/d to average 2.38 mb/d in 2013, representing an upward revision of 15 tb/d from the previous MOMR. This revision has come from South Sudan and Suda...
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| US Stock Movements |
5/26/2013 - Preliminary data for April shows that US total commercial oil stocks rose by 19.9 mb, reversing the drop of the last two months to end the month at 1,096.2 mb. With this build, the inventories widened...
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| Brazil Economy - May 2013 |
5/25/2013 - Brazilian manufacturing production expanded in March by 1.0% y-o-y after falling in February by 0.8% y-o-y, reflecting higher volumes of incoming new work from both domestic and international clients ...
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| Middle East Oil Demand in May 2013 |
5/25/2013 - In Saudi Arabia, 1Q13 oil demand grew remarkably at 7% y-o-y as a result of increasing requirements for industrial and transportation fuels, while relatively mild weather implied less direct crude bur...
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| Japan Oil Trade in April 2013 |
5/24/2013 - In March, Japan saw an increase in its crude oil imports by 604 tb/d or 17% to average 4.2 mb/d m-o-m. This monthly gain was a rebound after last month’s decline. An annual comparison showed crude imp...
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| Canada and Mexico Oil Supply – May 2013 |
5/24/2013 - Canada’s oil production is expected to increase by 0.26 mb/d in 2013 to average 4.03 mb/d, indicating an upward revision of 60 tb/d from the previous month. The anticipated supply increase in 2013 is ...
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| OPEC Reference Basket in April 2013 |
5/23/2013 - The OPEC Reference Basket (ORB) dipped by more than 5% for the second month in a row in April. However, it continued to average above $100/b, supported by the lesser decline in Oman/Dubai-related crud...
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| Middle East Oil Supply - May 2013 |
5/23/2013 - Middle East oil supply is believed remain steady in 2013 and drop 10 tb/d to average 1.49 mb/d, representing a downward revision of 10 tb/d from the previous month. This revision comes from Syria as u...
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| US Oil Supply – May 2013 |
5/22/2013 - US oil production is forecast to increase by 0.59 mb/d to average 10.63 mb/d in 2013, the highest growth among all non-OPEC countries. This strong growth represents an upward revision of 60 tb/d from ...
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| Asian Product Markets and Refinery Operations – April 2012 |
5/22/2013 - The Asian market continued bearish on the back of increasing supplies outpacing the regional seasonal weak demand, causing margins to fall, with the exception of fuel oil, which remained strong on the...
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| Trends in Selected Commodity Markets in April 2013 |
5/21/2013 - The declining trend in commodities in April has continued, as was confirmed by the latest World Bank data. Prices fell across the board, with the exception of the Henry Hub gas prices. This continues ...
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| China Oil Trade - April 2013 |
5/21/2013 - China’s crude oil imports rose slightly in March by 10 tb/d or 0.2% to average 5.5 mb/d, while refineries registered lower crude runs. In an annual comparison, crude imports dropped by 119 tb/d or 2% ...
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| US Oil Trade in April 2013 |
5/20/2013 - According to preliminary data, US crude oil imports in April were almost stable compared with last month’s level, averaging 7.7 mb/d, though they lost 870 tb/d or 10% over last year. Year-to-date, US ...
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