MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

China’s Planned Product Exports Down 5.1% in June: OilChem

OIL PRODUCTS
Energy BulletsHomepagemarkets-real-timeBulletCommodities

China’s refined product oil exports are planned at 3.72m mt in June, a fall of 5.1% on the month, according to OilChem.

  • The exports will be comprised of 0.84m mt of gasoil, 0.9m mt of gasoline, and 1.98m mt of jet fuel.
  • Production at state-owned refineries is projected to remain constrained by the maintenance season which started in April.
  • Moreover, demand in the main export outlets in Asia is lacklustre, while refineries in the likes of Indonesia and Vietnam have resumed domestic production.
  • Middle Eastern gasoil is also expected to flow to Asia due to poor arbitrage economics with Europe.
  • These factors combined are likely to squeeze both available export cargoes and export margins for Chinese refineries.

Keep reading...Show less
119 words

To read the full story

Close

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.

China’s refined product oil exports are planned at 3.72m mt in June, a fall of 5.1% on the month, according to OilChem.

  • The exports will be comprised of 0.84m mt of gasoil, 0.9m mt of gasoline, and 1.98m mt of jet fuel.
  • Production at state-owned refineries is projected to remain constrained by the maintenance season which started in April.
  • Moreover, demand in the main export outlets in Asia is lacklustre, while refineries in the likes of Indonesia and Vietnam have resumed domestic production.
  • Middle Eastern gasoil is also expected to flow to Asia due to poor arbitrage economics with Europe.
  • These factors combined are likely to squeeze both available export cargoes and export margins for Chinese refineries.

Keep reading...Show less