Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
The share of US crude in Asia's imports has fallen in 2022 as buyers shift to cheaper Russian crudes and other regions to meet demand recovering from pandemic restrictions.
- Actual volumes of US crude to Asia in Jan-Sep increased by 76 b/d yr/yr to 1.47 mb/d but the market share fell to 42% from 48% a year ago according to US Census Bureau.
- China's crude oil imports in Jan-Oct from US dropped 42.8% year on year to 148.5kb/d according to customs data and South Korea's imports fell 22% year on year in Q3 according to Korea National Oil Corp data.
- "Asia will be competing for US crudes if the arbs make sense, especially for countries which are not importing Russian crudes, such as South Korea," said Lim Jit Yang, advisor for Asia-Pacific oil markets at S&P Global.
- In Jan-Sep 2022, total US crude exports to all destinations averaged 3.5 mb/d, up 19% year on year. US exports to Europe increased 452kb/d to 1.46 mb/d according to US Census Bureau data.
Source: S&P Global
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok