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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
Chinese refiners processed 63.29mn tons of crude in March, up by 8.8% from last year’s levels, government data showed.
- This also equals 14.97mbpd – the highest daily volume on record.
- Refiners in China have been increasing production to respond to better-than-expected gasoline and jet fuel demand, with more cars running on streets and more people traveling on planes.
- PetroChina’s 400kbpd Guangdong Petrochemical complex, which started trial runs in October, was in the process of ramping up.
- The uptick in seasonal maintenance in April and May could mean refiners reduce processing rates will be lower in those months. A total of 62.4mn tons of capacity was under maintenance as of April 13, compared with 39.3mn tons two weeks earlier, OilChem data showed.
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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