In shadow of OPEC’s noisy oil cuts, Asia’s miners quietly tightened coal supplies

22 Nov 2017   Australia, Coal, Indonesia

Australian and Indonesian miners have quietly done in the last two years what OPEC has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, unlike the official cuts in place since January led by the Organization of the Petroleum Exporting Countries (OPEC), are culminating right as Asia enters the Northern Hemisphere winter when heating demand peaks in January. Additionally, there are warnings a La Nina pattern that typically brings colder-than-normal weather to the Northern Hemisphere might occur. In 2015, at the peak of the coal glut, Glencore, the world’s biggest thermal coal exporting firm, said […]

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