FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

China’s Teapots to Cut Fuel Oil Imports in May: Platts

OIL PRODUCTS

China’s Independent Refiners are likely to cut their fuel oil imports in May amid weak cracking margins and higher import costs, according to Platts.

  • "It has been at a loss for refineries to crack fuel oil either in crude distillation unit or in cokers, considering the current cost," a source told Platts.
  • Independent refiners, mostly in Shandong, had boosted fuel oil imports to 2.03m mt in April, the highest since June 2021 when S&P Global began collecting the data.
  • Of the total, 1m mt was imported from Russia, with the remainder of Malaysian origin (usually Iranian barrels)
  • Imports were higher amid elevated demand for competitive feedstocks and lower availability of crude import quotas in 2024.
  • Over Jan-April, fuel oil imports totalled 6.1m mt, up 43% on the year.
  • Fuel oil imports accounted for 9.8% of the total feedstock portfolio in Jan-April, compared to 6.3% in the same period in 2023.
Energy BulletsHomepageBulletCommodities
Energy BulletsHomepageBulletCommodities

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.