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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 refinery runs are declining due to seasonal turnarounds and poor export margins according to Vortexa.
- The refinery run cuts are limiting China’s imports of OPEC crude while freight rates have dropped to an 8-month low on weak demand outlook. (see chart fir details)
- Saudi crude exports to China are expected to fall for a third straight month in July to about 36mn bbls according to Reuters sources reported earlier – down from 39mn bbls in June.
- It comes even as Aramco dropped OSP’s for China in July.
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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