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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
Total OPEC-11 loadings (i.e. excluding Iran and Venezuela) stand at just shy of 21mbd for February, an increase of about 0.5mbd from full-month January levels according to Vortexa.
- The data shows a strong divergence from the main Middle East producers versus the rest of the group.
- Saudi loadings rose 150kbd m-o-m to 7.3mbd after having dropped in January to the lowest total since August 2021.
- Iraqi loadings have grown strongly so far in February, up by almost 300kbd m-o-m.
- UAE loadings rose only marginally (<100kbd) m-o-m. (have increased to Europe)
- Kuwaiti flows (to all destinations) are up 200kbd m-o-m – at a multi-year high towards China (over 1mbd).
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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