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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
A vessel with 1.8 million barrels of Russian Urals crude recently arrived in Venezuela, marking the first such import, following a recent import of Russian diesel according to Kpler.
- This move is part of Venezuela's efforts to support its struggling refinery sector according to Kpler - particularly the Paraguana complex which is operating well below capacity.
- See Kpler chart showing change in Venezuela crude exports towards US Gulf from November 2023 as sanctions eased – moving barrels away from China.
- A lack of progress towards allowing opposition leader María Corina Machado to run against Venezuelan President Nicolás Maduro looks set to force Washington to reimpose sanctions from April, likely pushing Venezuelan barrels back to Chinese teapots and creating more competition for sanctioned barrels.
Source: Kpler
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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