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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
Russian seaborne crude exports have shown further strength despite claims of production cuts.
- Seaborne crude exports have reached a record 3.61 million barrels a day in the latest four-week period according to Bloomberg vessel tracking.
- Its crude exports are now up by 10% since the first week of April and hit a new high for the period since Bloomberg began tracking them in detail at the start of 2022.
- Russian crude ship to ship transfers have largely moved away from offshore Ceuta to between the Canary Islands and the Azores.
- India and China remain the key buyers. Exports towards China remain strong while those towards India have slowed in recent weeks.
- Indian refiners are likely pulling in lower volumes because of weaker export demand for its road fuel exports.
source: Bloomberg
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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