US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OIL: Early November Shows Rising Pacific Basin Crude Exports: Vortexa

OIL
BulletEnergy BulletsCommodities

Early November data suggests rising crude exports from the Pacific Basin, especially the Middle East driven by locations in the UAE and Saudi Arabia, according to Vortexa.

  • A continuation of this trajectory to the end of the month would see Pacific Basin exports overtake Atlantic Basin exports for the first time since February 2023.
  • Global crude/condensate loadings (excluding Iran and Venezuela) are up by around 700kbpd in November1-15 compared to October totals.
  • Higher UAE loadings in the first few days of November is partly offset by weaker late October loadings.
  • Rising numbers of ballast VLCCs arriving into Saudi ports in H1 Nov, lower than expected Saudi OSPs in Dec, and Yasref refinery maintenance suggest exports could remain firm.
  • Kuwait Al Zour refinery turnaround in December could also add support to exports from the region.

 

Keep reading...Show less
131 words

To read the full story

Close

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.

Early November data suggests rising crude exports from the Pacific Basin, especially the Middle East driven by locations in the UAE and Saudi Arabia, according to Vortexa.

  • A continuation of this trajectory to the end of the month would see Pacific Basin exports overtake Atlantic Basin exports for the first time since February 2023.
  • Global crude/condensate loadings (excluding Iran and Venezuela) are up by around 700kbpd in November1-15 compared to October totals.
  • Higher UAE loadings in the first few days of November is partly offset by weaker late October loadings.
  • Rising numbers of ballast VLCCs arriving into Saudi ports in H1 Nov, lower than expected Saudi OSPs in Dec, and Yasref refinery maintenance suggest exports could remain firm.
  • Kuwait Al Zour refinery turnaround in December could also add support to exports from the region.

 

Keep reading...Show less