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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
Saudi Arabian crude oil and condensate exports fell by 800kbpd on 1-21 May compared with April levels, showing signs that the country is adhering to its pledged voluntary output cuts, Vortexa data showed.
- Saudi weekly exports had peaked at almost 8mbpd in the first weeks of April before falling to 7.5mbpd in the middle of April. Exports have fallen sharply in the past couple of weeks but even at 6.4-6.5mbpd, loading activity is similar to export volumes seen at the start of the year.
- Russian exports for the same period fell by 300kbpd, compared with April levels.
- Russia’s Deputy PM Alexander Novak reiterated that Russia would reach its pledged 500kbpd output cut this month. But so far, third-party data fails to support a cut of 500kbpd.
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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