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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
During the first 12 days of January, Russian seaborne crude exports surged to 3.520 mb/d, 25% above December which had the year’s lowest exports according to Petro Logistics.
- ESPO exports from Kozmino were above 900 kb/d, up 179 kb/d m/m and in-line with the loading schedule which includes 4 cargoes from Dec and shows yet another halt in loadings (~18–22 Jan) due to assumed maintenance on the Transneft pipeline, the fourth time in 6 weeks.
- Crude exports from the Baltic and Arctic ports were also well up m/m following last month’s lows.
- China and India continue to absorb the majority of volumes.
- VLCCs picking up Russian barrels via STS have reemerged close to Gibraltar Petro Logistics said.
- Turkey is importing less Russian crude following Socar’s decision to stop processing Russian barrels last month.
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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