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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
Black Sea and Caspian Crude supply is being increasingly hampered by falling loadings of Kazakh CPC Blend crude according to Vortexa figures.
- Total CPC Blend loadings so far this month (days 1-27) stand at just over 1mbd – the lowest since September 2016.
- The loading terminal has been disrupted on several occasions since the start of the Ukraine invasion, which has added a further downside element to global crude supplies.
- Chevron is working on rail transport measures to find another way to get Kazakh crude onto the international markets.
- The CPC Marine Terminal has been operating at around 50% capacity for most of September but part of the decline in loadings is also attributed to ongoing maintenance work at the Kashagan and Karachaganak oil fields. The combination of these factors means preliminary loading schedules for October show an expected 7% m-o-m drop in crude loadings according to Argus.
- Total Black/Caspian Sea loadings so far in September are largely flat m-o-m at 2.4mbd, well below the 2.9mbd peak seen in May.
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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