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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
Global crude loadings are estimated to fall 186kb/d from July to a new low for 2024 of 37.2mb/d in August, according to FGE.
- The drop is driven by lower availability from Libya following an unplanned El Sharara oilfield outage, Middle East peak summer power demand and planned Tengiz oil field maintenance in Kazakhstan.
- Global crude exports are expected to rise significantly in September supported by higher flows from Kazakhstan and Nigeria, and record Guyana loadings.
- US export volumes are also forecast to increase from current levels over H2 2024 as refinery throughputs fall from peak summer levels.
- September global crude loadings are however expected to show a fourth straight month of y-o-y declines, which could also continue in October.
Source: FGE
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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