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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
Chinese onshore oil inventories fell to the lowest level in eight months at the start of January but remained well above the five-year average, Vortexa data showed.
- Chinese stockpiles - onshore commercial holdings and the government’s reserves — are currently at 934mn barrels, compared with the five-year average of 920mn barrels.
- Stocks have dropped by around 9% from the late-July peak.
- “The nation could be looking to restock some inventories this year, but mostly for refinery use, with active buying for April to May arrival, as refiners prepare to boost runs post seasonal maintenance,” Vortexa analyst, Emma Li, said.
- Chinese crude stockpiles will likely build this quarter, with “restocking demand from majors,” said Jianan Sun, analyst at Energy Aspects said. Stocks will likely rise by more than 60mn barrels though this year, Sun added.
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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