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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 PRODUCTS
Chinese fuel oil imports reached almost a decade high in April according to General Administration of Customs data out Saturday.
- Total Chinese fuel oil imports almost tripled in April from a year prior to 2.67 million tonnes - a level not seen since May 2013 and 10% higher than March.
- China has been stepping up its use of fuel oil as a refinery feedstock since late 2022 with a strong demand for discounted Russian barrels developing and a near record refinery pace April.
- A crackdown on cargoes mislabeled as diluted bitumen could keep fuel oil as a strong alternative according to consultant FGE.
- Chinese fuel oil exports, measured mostly by sales from bonded storage, totalled 1.36 million tonnes in April, down 30% from March.
- Demand for bunkering in China dropped due to more competitive pricing in Singapore.
source: Customs data via Reuters
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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