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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
The OPEC+ surprise decision to reduce crude oil output by 1.16mb/d from May has tipped global balances this year into deficit according to Energy Intelligence. They suggest an average 2.2mb/d shortfall in the second half of 2023.
- Since the start of the year, analysts have made significant upward adjustments to forecasts for Russian production after exports stayed up, adding to pressure for other OPEC+ members to cut output.
- Demand growth this year is pegged at an unchanged 1.8mb/d according to their survey of five reports.
- The IEA shows demand outstripping supply by 2.7mbpd in the fourth quarter.
Source: Energy Intelligence
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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