Pages

Tuesday, March 27, 2012

Perfect Storm?

Link here to AdvisorAnalyst.com. (some numbers rounded)
The latest incoming data from Asia continues to surprise to the upside
Data points
  • year-over-year growth of 373,000 bopd in January
  • critical driver: Japanese oil demand; up yoy by 300,000 bopd post nuclear-debacle
  • South Korean oil demand increased by 13,000 bopd despite mild winter
  • South Korean February demand pickup shows 173,000 bopd increase yoy
  • South Korea: one of the strongest growth rates ever
  • China oil demand soared to a record high in February; all-time high demand in gasoline and strong diesel demand
  • China coal imports surged 154 percent yoy
  • China plans to cap coal consumption by 2015 --> more oil, natural gas? 
  • South Africa suspended oil imports from Iran (India did so earlier)
Perfect storm (not noted in link above):
  • Asian oil demand (above)
  • Indian oil demand
  • Iranian oil taken off global market
  • Saudi Arabia:  more analysts question Saudi's ability to increase production
  • Keystone XL 1.0 killed; some Canadian oil sands companies halting production; difficult to get Canadian oil to market
  • Global recovery continuing?

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.