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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 will likely issue the second batch of oil product export quotas in early May, at least one month earlier than in previous years.
- The new quotas will likely be around 10mt according to Vortexa compared to the unexpected 15mt in the last batch for 2022. The early issuance of quota is unlikely to trigger an immediate surge in refining run rates or exports this time as export economics are not supportive.
- China is attempting to provide oil majors more flexibility in planning their exports for the rest of the year.
- Total quotas issued for 2022 will be less than last year as China aims to stick to its carbon emissions control goals.
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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