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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 imports recovered on a m-o-m basis in July, reinforcing the view that global crude supply and demand balances will tighten over H2, despite indications of weaker Chinese imports according to Vortexa.
- Global seaborne imports rose m-o-m by almost 900kbd in July to 41.7mbd, up from a 2023 low of 40.8mbd set in June. Global import levels are still yet to surpass pre-covid highs.
- China imported almost 1.5mbd less crude in July than it did in June, driven by a drop from the US, Middle East (mostly Saudi Arabia and Iran), and Russia.
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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