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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 PRODUCTS
China’s exports of refined oil products are expected to rise in August amid higher export profits, according to OilChem.
- Exports are then expected to recede in September and October as domestic demand revives.
- China’s fuel-export quotas for 2023 are predicted to be larger than the previous year’s 37.5mn tons according to JLC.
- The third round of issuance is expected in early August and predicted to be around 10mn tons according to Oilchem and JLC. The second-round issuance in May was 12mn tons.
- Exports levels for July stood at around 3.4 million tons, boosted by export profits which rose to Yuan 260/t in July from minus Yuan 45/t in June.
- Exports consumed 72.8% of the quotas in the first two batches, compared to 68.2% in 2022, and are forecast to rise to 97.5% when including exports in July and August according to an OilChem survey.
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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