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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 refiners have reduced run rates as new covid outbreaks and lockdown measures are impacting China’s domestic oil demand.
- The run rate at Shandong independent refiners fell 3% for the week to Nov 18 falling below historical seasonal averages according to Bloomberg.
- The additional fuel export quotas of 15m tons, released at the end of September, has supported diesel production, but weak domestic oil demand has pushed refiners to reduce overall output.
- Diesel output however increase by 10% to a record high of 18.8m tons in October.
- Refinery margins for diesel remain relatively healthy compared to other products, with weaker demand for fuels such as gasoline and jet fuel.
Source: Bloomberg / National Bureau of Statistics of China
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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