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
China fuel exports are expected to remain strong in October due to recent export quotas and firm profit margins driven by diesel. Strong margins for middle distillates in Asia have so far been enough to offset weakness in gasoline and naphtha but an increase in China diesel exports could add downside pressure to margins.
- Increased Chinese refiner crude stocks from discounted Russian and Iranian crude imports could also help boost exports of products without having to import more oil according to Reuters.
- China's diesel exports could increase from November onwards with additional fuel export quotas but would require a significant increase to match year ago levels.
- October 2023 shipments are estimated between 1.2m to 1.3m metric tons according to LSEG and roughly in line with 1.14m in September and 1.26m in August. Diesel shipments were up at 2.1m metric tons in November 2022 and 2.79m in December 2022.
- Diesel shipments from China so far in October are just 660k metric tons according to Kpler and likely to end the month in line with September.
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