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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 PRODUCTS
Russia’s diesel exports are on track to hit a record this month despite EU sanctions depriving the country of its biggest market, as Turkey, Morocco and other nations stepped up purchases according to Vortexa data.
- Russian diesel shipments in the first 19 days of March stood at around 1.5mbpd according to Vortexa. If the rate is maintained, this month will see the highest exports in data going back to the start of 2016.
- Turkey, Morocco and other nations have increased buying — though some cargoes from Russia are also being held in floating storage.
- “Russia’s refinery runs remained high so far in March, which allowed robust diesel output,” said Mikhail Turukalov, an independent US-based oil-products analyst.
- “Domestic producers seem quite confident they can sell their volumes to foreign buyers — the discounts they offer are deep enough and there are new markets for the fuel.”
- Yet the boom in shipments may not last. Loading plans for key Russian ports show a drop in April as refineries will start spring maintenance according to Bloomberg.
- Loadings from Russian ports in the Black and Baltic Seas, including some volumes from Belarus, are planned at 2.39mn tons next month, 14% below March schedules. March diesel exports are projected at 2.77mn tons.
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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