tailieunhanh - OIL MARKET REPORT 2013

After decades of exponential increase in computing power per dollar, the HEC community faces great challenges in creating the hardware, software, and systems to achieve and exploit the next few orders of magnitude increase in HEC capability expected by 2020. These challenges include developing applications and system architectures that effectively utilize billion-fold concurrency, reducing the energy per computation by orders of magnitude, achieving system resilience at extreme scales, and enabling future revolutions in simulation and big-data-enabled science and technology. . | Oil Market Repor H International Energy Agency 18 January 2013 HIGHLIGHTS Crude oil prices edged higher as 2012 drew to a close gathering strength from seasonally stronger winter demand and geopolitical concerns. By mid-January prices were trading above December levels with Brent at bbl and WTI around bbl. The world is forecast to consume mb d of oil in 2013 240 kb d more than in last month s report and 930 kb d up on 2012. A raised 4Q12 demand estimate and heightened expectations for China are the main contributors to the hike. Global supplies fell by 170 kb d in December to mb d. NonOPEC production rebounded by 90 kb d from the prior month to mb d and is expected to increase by 590 kb d in 1Q13 y-o-y. For 2013 non-OPEC production is projected to rise by 980 kb d to mb d the highest growth rate since 2010. OPEC crude supply in December fell to its lowest level in a year at mb d on lower output from Saudi Arabia and Iraq. Average OPEC crude output reached an historic high in 2012 in the wake of continued global demand growth. The call on OPEC crude and stock change for 2013 was raised by 100 kb d to 30 mb d. OECD industry inventories drew by mb in November led by a further drop of 11 mb in middle distillate stocks extending earlier declines. On a forward demand basis total products cover fell by days to 30 days in November. December preliminary data point to a further mb decline in OECD industry inventories. Global refinery runs rose mb d y-o-y to around mb d in 4Q12 with growth in refining activity concentrated in China India and Russia. Favourable refining margins a gradual reduction in offline capacity and a cold snap in Asia and the FSU supported refinery throughputs in the last months of 2012. TABLE OF CONTENTS CROUCHING TIGER HIDDEN Global Top-10 Chinese Demand Forecast .