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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
China imports of crude oil from Russia fell again last month while shipments from Saudi Arabia rose to the highest since August and Venezuela shipments continued for the fourth straight month according to official customs data.
- China's seaborne and pipeline imports from Russia fell 3.8% m/m from 9.26m metric tons in April to 8.91m metric tons in May and were 8.2% lower on the year, according to data from the General Administration of Customs.
- Saudi Arabia shipped 7.44m tons of crude oil to China last month, up from 6.34m in February and 1.6% higher on the same period last year.
- Imports from Iraq fell to 5.12m tons in May from 5.54m in April while imports from Malaysia rose to the highest since October at 5.85m tons compared to 4.04m tons the previous month. Malaysia is used as a trans-shipment point for sanctioned cargoes from nations like Iran.
- China imported 284k tons of crude oil from Venezuela in May compared to 194k in April.
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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