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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
India pulled in higher volumes of Russian oil in May reaching 1.95mn bpd in May according to tanker tracking data. Higher Russian volumes are muscling out regular suppliers like Iraq and Saudi Arabia.
- Russian oil accounted for about 40% of India's crude imports in May, cutting imports from Iraq to a three-year low and from Saudi Arabia to their lowest since September 2021 according to Reuters analysis.
- India imported 801,400 bpd of Iraqi oil in May, down about 13.7% from April, while supply from Saudi fell 15% to 616,100 bpd.
- Overall Indian oil imports rose marginally from April to 4.8 million bpd in May.
source: Reuters
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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