Free Trial
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 PRODUCTS
Fuel oil imports into Chinese independent oil refiners has fallen this month but remains historically high. Cargo inspections have cut supplies of lower priced bitumen blend feedstocks.
- Fuel oil arrivals, predominantly declared as from Malaysia and Russia, may reach 2.3 million tonnes this month, according to Refinitiv and Vortexa.
- They are down from 2.67 million tonnes in April – a 10-year high.
- Diluted bitumen imports slumped to 121,000 tonnes in April, the lowest since August 2019, and well down on March’s 1.42 million tonnes.
- Crude, unlike bitumen mixture, is subject to strict import quotas, while Beijing manages fuel oil imports via a looser quota system.
- A lack of feedstock availability has kept teapot refinery capacity low at 64.3% as of May 24 according to JLC.
source: 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok