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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 exports of fuels, including gasoline and diesel, fell to a four-month low of 5.17 million metric tons in October, down 5% m/m according to customs data.
- The Chinese government said in September it would not increase current export quotas which are running short for refiners.
- A lack of China exports may support global refinery margins, especially for fuels like diesel.
- OilChem estimates that Chinese refiners had used up about 80% of their export allowances by end-September.
- China crude imports rose slightly to 11.53mn bpd in October, but increased flows come against a backdrop off falling runs which are expected to keep dropping in November on the back of weaker export quotas.
source: Customs/Bloomberg
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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