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
Imports of feedstocks into independent refineries in Shandong province fell 6.5% on the month in November to 9.4m mt, according to OilChem.
- Driving the decline was a slump in crude oil arrivals, which fell 25% on the month to 6.37m mt. The steep fall is attributed to depleting crude oil quotas and the failure of the first batch of 2024 quotas to be released in December.
- November Bitumen mixtures and fuel oil imports jumped 108.6% on the month to 1.74m mt and 117.4% to 1.18m mt respectively.
- Feedstock arrivals from Jan-Nov totalled 127m mt, up 12% on the same period in 2022.
- A scarcity in crude oil quotas is expected to remain an issue for imports in December. However, there is the possibility that some independent refineries will stockpile feedstocks and place them in a bonded zone in anticipation of quotas released, OilChem said.
Source: OilChem
Source: OilChem
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