August 2018

OPEC - In 2018, oil demand growth is anticipated to increase by 1.64 mb/d, 20 tb/d lower than last month’s projections, mainly due to weaker-than-expected oil demand data from Latin America and the Middle East in 2Q18. Total oil demand is anticipated to reach 98.83 mb/d. For 2019, world oil demand is forecast to grow by 1.43 mb/d, also some 20 tb/d lower than last month’s assessment. Total world consumption is anticipated to reach 100.26 mb/d. The OECD region will contribute positively to oil demand growth, rising by 0.27 mb/d y-oy, yet with growth of 1.16 mb/d, non-OECD nations will account for the majority of growth expected.

REUTERS - Chinese oil importers are shying away from buying U.S. crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary.

U.S. EIA - Crude oil production from the major US onshore regions is forecast to increase 93,000 b/d month-over-month in August from 7,429 to 7,522 thousand barrels/day , gas production to increase 1,007 million cubic feet/day from 71,413 to 72,420 million cubic feet/day .

ASIAN REVIEW - Russia accounts for 67% of the world's nuclear plant deals currently in development. By 2030, Rosatom aims to increase its overseas sales to two-thirds of total sales, from 50% at currently. Vladimir Putin's government is looking to expand Russian influence through nuclear diplomacy, vying with China -- which is promoting its own nuclear plants -- for the status of nuclear energy superpower.

РОСАТОМ - Выручка по МСФО в 2017 году увеличилась на 10,2%, до 967,4 млрд рублей. Зарубежная выручка достигла 6,1 млрд долл. США (на 9,4% больше, чем в 2016 году).

РОСАТОМ - «Подписание сегодняшнего Соглашения между отраслевым комплексом Госкорпорации «Росатом» – «Русатом – Международная Сеть» и Евразийским банком развития создаёт дополнительные предпосылки для успешной реализации проектов в области традиционной и возобновляемой энергетики, ядерной медицины и других областях в странах-участницах ЕАБР, в которых предприятия Росатома участвуют, как поставщики оборудования и услуг, реализуют те или иные проекты, являются партнёрами местных государственных и частных компаний», – сказал Александр Мертен.

BLOOMBERG - The Norwegian government in June made its first deposit into its wealth fund since the end of 2015. Now that the economy is in full recovery and the labor market is tightening, winding down fiscal stimulus is a key priority in next year’s budget, the prime minister said in an interview in Arendal, on Norway’s southern coast.

PLATTS - A deal between Chinese companies and Alaska's state gas corporation to build the $43 billion Alaska LNG Project appears to be on scheduled despite the trade war brewing between the US and China.

REUTERS - Benchmark Brent crude oil LCOc1 was up 10 cents at $72.91 a barrel by 0930 GMT. U.S. light crude CLc1 was unchanged at $67.63 a barrel.

"This has been discussed for a while with Russia's largest trading partners such as India and China. Even Arab countries are starting to think about it... If they do create difficulties for our Russian banks, all we have to do is replace [dollars],"