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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’s crude imports jumped 11% m/m in August hitting a 10-month high of 10.3mn bpd according to Vortexa, supported by an increase in domestic runs.
- China’s implied refinery runs rebounded to a 6-month high of 15.3 mbd in August according to Vortexa data.
- Although improved, the implied figure still represents a 1mn bpd contraction y/y vs an average of a 400kbd contraction in the prior 7 months highlighting the weak demand picture coming out of China.
- Weak Chinese demand is one of the key factors potentially stopping OPEC+ barrels returning to the market in October.
Source: 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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