Free Trial
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
Crude storage capacity utilization rates at independent refineries in China’s Shandong Province averaged 43.9% in the week to May 29, up just 0.08% on the week and down 3.88% on the year, according to OilChem.
- Crude storage at the Teapots has been hovering around a four-year low since the start of 2024, as poor refining profits disincentives refineries from building stocks.
- Teapots are likely to boost crude buying in the near term due to rebounding profits, albeit remaining at lower levels, OilChem said.
- Refining profits in Shandong averaged 321.58 t/mt, up 21.6% on the week but down 67.4% on the year.
- OilChem also noted an increase in the number of crude carriers arriving in Shandong.
Source: OilChem
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok