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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
{us}{7i} US crude production rose from 12.96mbpd in July to a record high of 13.05mbpd in August surpassing the pre-covid levels and up from 11.99mbpd in Aug 2022.
- EIA has revised up the estimate for US road fuel demand in August based on monthly data compared to the weekly data with gasoline consumption at 9.30mb/d vs the weekly at 9.06mb/d and diesel at 4.13mb/d vs 3.76m b/d.
- Total oil demand was however revised down to 20.88mb/d from 21.1mb/d. Demand was 20.12mb/d in July and 20.265mb/d in August 2022.
- Change in US oil demand y/y by product in kbpd:
- Gasoline +184 to 9,299
- Distillate +193 to 4,134
- Jet fuel +56 to 1,709
Source: EIA
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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