MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI: US MAR PERSONAL INCOME +0.5%; NOM PCE +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Energy Aspects Forecasts Oil "Directionally Higher"

OIL

Oil prices should head directionally higher in 2023 according to Energy Aspects Amrita Sen in an interview with CNBC:

  • “Directionally, oil should continue to head higher, for the simple reason, China is re-opening.” Sen said.
  • “I’m not saying it’s going to be a straight line, there are still concerns about the US recession.” she added.
  • “Oil prices should be well above $100/bbl this year, the question is timing because we still have an overhang to run down, we have refinery maintenance, so seasonally its against us but directionally its heading higher.” Sen said.
  • Energy Aspects expects 2023 Chinese crude import growth to be the highest in 20 years. It forecast crude arrivals to rise to around 11.5mb/d in April and remain above 11mb/d in Q2.
Energy BulletsCommodities
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