MNI BRIEF: NY Fed Survey - Consumers Expect Lower Inflation

MNI BRIEF: China Must Unblock Domestic Circulation - Wang

MNI China Daily Summary: Monday, July 8

MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

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

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

EZ/UK Bond Supply Calendar: EU/UK Syndications; NE, AS Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

Broad-Based Trade Activity Declines Notwithstanding Higher Surplus

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Energy Intel See Russia and Refining Cap Uncertainties

OIL

Energy Intelligence balances show the world should have enough crude oil through 2023 if some spare capacity is tapped, with a wider margin of error if an Iran nuclear deal can be clinched.

  • They see product demand growing by 2.1mbpd in 2022 and 1.9mbpd in 2023 and a small supply surplus which would help replenish inventories. High prices for refined products like gasoline and diesel could loosen markets.
  • Russia's ability to continue exports, particularly products, and the global refining sector's capacity to meet consumption are significant uncertainties.
  • They expect global refining capacity to increase by 3mbpd in 2022 and 2023, but this is not enough to offset the 4mbpd of throughput capacity lost during the pandemic.
  • US, Norway, Saudi Arabia and the United Arab Emirates are expected to increase production adding 1mbpd to global supply in the short term, with an additional 2mbpd next year.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.