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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
Russia was China’s top crude importer for the first two months of 2023, overtaking Saudi Arabia as buyers stocked up on discounted barrels according to General Administration of Customs data.
- Arrivals from Russia were 15.68 million tonnes in January-February, or 1.94 mn bpd, up 23.8% from 1.57 mn bpd in the corresponding 2022 period.
- Imports of Saudi crude totalled 13.92 million tonnes in the two-month period, equivalent to 1.72 mn bpd, down from 1.81 mn bpd a year earlier.
- Russian crude import increases have been driven by independent refiners, many of which are based in Shandong province.
- Customs data also shows Malaysian crude imports were 0.65 million bpd Jan-Feb, up 144.2% from the same period last year. Malaysia is often used as an intermediary point for sanctioned cargoes from Iran and Venezuela.
in metric tonnes:
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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