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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 commercial crude oil port inventory is likely to fall following a recent short-lived rebound, according to OilChem.
- The expected decline is driven by continuously poor refining profits and domestic refineries, as well as high global prices for popular grades, OilChem added.
- An OilChem survey showed that CDU capacity utilisation rates averaged 58.68% in the week ending May 9, up 1.52% on the month, but down 6.16% on the year.
- Amongst independent refineries in China’s Shandong Province, CDU capacity utilisation averaged 57.60% in the week to May 9, down 4.26% on the month and 4.51% on the year.
- China’s commercial crude port inventory stood at 27.65m mt May 8, down 0.32% on the week and 1.15% on the year.
- China’s commercial crude port inventory rebounded from the previous annual low in early May, supported by resumed buying of Venezuelan crudes after the US reimposed sanctions.
Source: OilChem
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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