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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
Global crude/condensate exports fell by almost 180kbd in June according to Vortexa vessel tracking.
- Global crude/condensate seaborne exports fell m-o-m to 38.5mbd in June, while Non-OPEC+ supplies sharply increased market share at the expense of Saudi Arabia.
- It marks the fourth successive monthly decline and the lowest month since August 2023.
- The largest declines in exports came from Saudi Arabia (600kbd lower) while UAE, Iraq (both 200kbd) and Kuwait (40kbd) also posted lower levels.
- The latest data for June fits and extends the structural trend of Non-OPEC+ supplies contributing to a growing share or global seaborne supplies.
Source: Vortexa
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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