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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 ticked higher October at 10.7mn bpd, 200,000 bpd higher than September.
- China’s onshore crude stocks started to accumulate in the second half of October – following two consecutive months of declines averaging 800kbd since late August.
- Stocks have built on falling China runs – especially teapots in Shandong.
- China crude stockpiles increased by 2mb over the two-week period, reaching 958mb as of Nov 2.
- Vortexa calculates a decrease in China runs of about 1mn bpd – equivalent to 6-7% across both state and independent refiners.
- See chart for China total onshore inventories and Shandong inventories.
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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