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
Asian imports of medium-heavy sour crudes from the Middle East (excluding Iran) have fallen sharply from 11mbd in March to only 9.5mbd so far in July (day 1-10) according to Vortexa.
- It follows commitments from Saudi Arabia and other Middle East OPEC nations – that primarily produce medium-heavy sour crude – to voluntarily cut production.
- The sharp drop in Asian imports of these crudes also reflects the sensitivity of demand in the region, along with India and China’s hike in imports of medium sour Russian crudes, like Urals, and China’s increase of Iranian crude imports.
- Unlike Asia, Europe has broadly maintained its import levels, reflecting the need to maintain medium-heavy sour crude flows at or above the 2.5mbd level, in the absence of Russian supply according to 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok