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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
Asian crude oil imports have tracked higher in May, driven by Chinese imports according to Refinitiv.
- A total of 27.73 million bpd of crude is expected to be offloaded at Asian ports in May.
- This is up 8.6% from the 26.39 million bpd in April and will be the strongest outcome so far in 2023.
- China is projected to import 11.96 million bpd in May, up from April's relatively soft 10.96 million and just below the 34-month high of 12.37 million bpd in March.
- China's imports of both seaborne and pipeline crude from Russia are expected to reach 2.0 million bpd in May, up from 1.74 million bpd in April.
- This means Russian imports are expected to be higher than those of regular top supplier, Saudi Arabia, for another month.
- Saudi crude imports into China are expected at 1.95 million bpd in May, down from April's 2.07 million.
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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