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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 PRODUCTS
Improving domestic fuel demand, coupled with cooling export margins, have weighed on China’s product exports in 2023 which are forecast to fall further still in March.
- Oilchem released a note earlier this week forecasting that China’s gasoil exports will dip 80% in March versus Feb.
- China’s crude consumption is expected to pick up in 2H 2023, after the Q2 peak refinery maintenance season, with a 0.6 – 1mbd year-on-year growth for 2023 according to Vortexa. Product exports will remain limited in the meantime.
- Chinese oil product exports have fallen dramatically from December to February as it becomes more favorable to keep oil products for the domestic market as consumption surges on a recovering economy (see chart).
source: Vortexa
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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