Free Trial
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.
OIL
Total imports by China and India of Russia-origin crude have been climbing of late and this has coincided with a plateauing of Russian crude on water, along with a decline in Sokol volumes according to Vortexa.
- Previously waiting Sokol cargoes have been discharged into China at scale so far in March, and some of this is boosting CPP output in Tianjin.
- Sokol cargoes have been diverting away from India due to sanction concerns, boosting flows to China instead.
- Russia’s Sokol crude was hit hardest by tightened sanctions according to Bloomberg. At its height, the stranded oil amounted to as much as 18 million barrels earlier this year after Indian refiners shunned the grade. The backlog is finally clearing up with most tanker heading to China after idling weeks in water.
Source: Vortexa
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok