MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y

MNI: EUROZONE JAN IP +0.8% M/M, +0% Y/Y

MNI: SWEDEN FINAL FEB CPIF +2.9% Y/Y

MNI: US FEB TREASURY BUDGET -$307.0B

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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OIL: Saudi Crude Supplies To China To Decline In April

OIL
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Saudi Aramco set to supply around 34m bbls of contractual supplies of April-loading crude to customers in China, Bloomberg reports. 

  • Represents a sharp m/m decline from around 41m bbls for March, according to Bloomberg sources.
  • The April volume is the lowest in at least five months, Bloomberg reports.
  • Last week, Saudi Aramco cut its OSP for Arab Light Crude for April by $0.4/bbl to a premium of $3.50/bbl to the Oman-Dubai benchmark.
  • The cut was larger than expected and followed OPEC+’s decision to go ahead with planned supply increases in April; expectations were that the OSP cut could spur additional demand in Asia. 
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Saudi Aramco set to supply around 34m bbls of contractual supplies of April-loading crude to customers in China, Bloomberg reports. 

  • Represents a sharp m/m decline from around 41m bbls for March, according to Bloomberg sources.
  • The April volume is the lowest in at least five months, Bloomberg reports.
  • Last week, Saudi Aramco cut its OSP for Arab Light Crude for April by $0.4/bbl to a premium of $3.50/bbl to the Oman-Dubai benchmark.
  • The cut was larger than expected and followed OPEC+’s decision to go ahead with planned supply increases in April; expectations were that the OSP cut could spur additional demand in Asia.