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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
Vortexa figures show that both Saudi and the rest of OPEC+ have boosted crude exports in the first half of November which has weighed on markets after significant supply cuts in prior months.
- OPEC+ exports (excluding Iran and Venezuela) have almost hit 20mbd so far in November, putting them well above the August low of 18.6mbd and at the upper range for levels seen during this year.
- Vortexa showed Saudi crude exports breaching 6.5mn bpd in H1 November – a strong rebound from 5.4mn bpd in August.
- Clean product exports out of Saudi meanwhile have slipped significantly.
- “The elevated levels of Saudi Arabia and other OPEC+ members’ crude exports, compared to August levels, add further weight to the bearish sentiment on crude markets.” Vortexa said.
Source: Vortexa
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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