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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 crude import volumes rose to 48.36m tons (11.39mbpd) in Dec from 10.33mbpd in Nov resulting in a record year for imports in 2023 as the country emerged from Covid restrictions according to General Administration of Customs data. Oil demand in China is considered a key to global growth this year amid uncertainty over a slowdown in 2024.
- China crude imports increased 11% y/y in 2023 to 563.99m metric tons (11.28mbpd), up from a previous record of 10.81mbpd in 2020.
- December refined fuel products exports in Dec fell to the lowest since June at 4.64m tons amid a lack of export quotas. Total fuel product exports were 62.69m metric tons in 2023, up 16.7% on the previous year.
- Transport fuel demand, which accounts for about half of all oil products consumed, saw robust growth last year as domestic passenger transport levels steady increased through 2023.
Source: Reuters
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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