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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 highlights:
- June crude imports came in at 11.4mn bpd – up 40% y-o-y and near June 2020’s record high pace according to Vortexa.
- Onshore crude stocks stood at 980mb at the end of June – only 20mb below the all time high recorded in August 2020 according to Vortexa.
- China’s state-run oil refiners raised run rates by 0.05 ppt w/w to 77.9% as of July 6 according to OilChem.
- Independents +1.47 ppt w/w to 62.37% while Shandong teapots were -0.28 ppt to 60.8%.
- Commercial diesel stockpiles +1.6% w/w to 16.41m tons as of July 6, while Gasoline supplies -1.8% w/w to 12.9m tons.
- China’s four biggest state-run refiners are expected to process 42.54m tons of crude in July, the highest level this year according to JLC earlier this week.
- Commercial diesel stockpiles +1.6% w/w to 16.41m tons as of July 6, while Gasoline supplies -1.8% w/w to 12.9m tons according to OilChem.
- See attached image of Chinese clean product exports according to Vortexa.
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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