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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
Arrivals of Russian crude into India rose by 260kbd m-o-m in December to reach 1.2mbd, a record high, while January arrivals are on-track to set another record with nearly 1.3mbd of Russian crude discharged in the first two weeks of this month according to Vortexa.
- In contrast, around 770kbd of seaborne Russian crude was discharged in China in December, down nearly 27% m-o-m, with a slight rebound to 890kbd seen in 1H January.
- Private Indian refiners have led the increase this month.
- As the 5 February EU ban on Russian oil imports approaches, India’s diesel exports to Europe have rebounded to 260kbd in the first two weeks of January.
- India’s higher imports of Russian crude have come at the expense of lower purchases from Middle East producers, particularly Saudi Arabia, Iraq and the UAE.
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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