MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Oil Demand To Rise By 3-4% By End Of Year: Mercuria

OIL

Global oil consumption is expected to rise by 3-4% to 103-104mbpd by the end of this year, compared with current levels, Marco Dunand, CEO of Mercuria said.

  • Oil prices are expected to rebound later this and keep rising in 2024 as demand jumps and producers struggle to keep up, triggering further severe price swings, Dunand said.
  • Higher consumption, coupled with a lack of spare output capacity and low investment in exploration, could keep prices volatile for the next decade, Dunand added.
  • “We’re definitely gearing ourselves up for volatility for the next 10 years,” Dunand said. “Right now producers and refiners are being a bit conservative” because they’re concerned more stringent climate policies will hit fossil fuel demand, he said.
Energy BulletsCommodities
Energy BulletsCommodities

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