Free Trial

Russian ESPO Pivots Towards India

OIL

Russian ESPO Blend has pivoted away from Chinese independent refiners towards Indian refiners in recent months according to Vortexa. (See chart)

  • China’s independent refineries’ CDU capacity utilisation rates have been trending downward mainly due to maintenance and weak refining margins according to OilChem mid-May.
  • CDU capacity utilisation rates at Teapots averaged 57.61% in the week to May 16, down 1.07 percentage points on the week.

Keep reading...Show less
66 words

To read the full story

Close

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.

Russian ESPO Blend has pivoted away from Chinese independent refiners towards Indian refiners in recent months according to Vortexa. (See chart)

  • China’s independent refineries’ CDU capacity utilisation rates have been trending downward mainly due to maintenance and weak refining margins according to OilChem mid-May.
  • CDU capacity utilisation rates at Teapots averaged 57.61% in the week to May 16, down 1.07 percentage points on the week.

Keep reading...Show less