MNI China Daily Summary: Thursday, Dec 5

MNI: UK NOVEMBER CONSTRUCTION PMI 55.2 (FCST: 53.5); OCT 54.3

MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI: EUROZONE OCT RETAIL SALES -0.5% M/M, +1.9% Y/Y

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Russian Oil Exports Remained Just Below Pre-Conflict Levels In November

OIL

Russia's seaborne crude exports stood at around 3mb/d in November, as flows to India surged to a record high, absorbing barrels displaced from Europe where imports sank to all-time lows ahead of the EU Dec 5 import ban and G7 price cap, according to tanker tracking data.

  • Seaborne exports of Russian crude averaged 3.07mb/d in November, down from 3.09mb/d in October and just below the pre-war average of 3.1mb/d in January and February, according to S&P Global Commodities at Sea data.
  • Russian crude flows to Europe fell to 308kb/d in November.
  • Crude oil flows to India rose to a record-high of 1.7mb/d in November, up by 272kb/d month on month.
  • Flows to China remained at similar levels on the month at 918kb/d in November.
  • Turkey’s imports of Russian crude oil declined by 35% in Nov to 224kb/d, but remained well above pre-conflict levels of 130kb/d.
Energy BulletsCommodities
Energy BulletsCommodities

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