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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
China added to crude oil stockpiles at the fastest rate in nearly three years in May according to Refinitiv.
- 1.77 million bpd were added in May, the most since July 2020 and reversing the small, and rare, draw of 340,000 bpd in April.
- China's refiners processed 62.0 million metric tons in May, equivalent to 14.6 million bpd – the second highest monthly total.
- The volume of crude available to refiners was 16.37 million bpd, consisting of imports of 12.11 million bpd and domestic output of 4.26 million bpd according to Refinitiv.
- Over the first five months of the year China has added about 730,00 bpd to storages, roughly in line with the 740,000 bpd added over 2022 as a whole.
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.
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