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 PRODUCTS
Ahead of peak summer power demand, Saudi Arabia has been importing record levels of Russian fuel oil according to Vortexa.
- Helped by Russian flows, total Saudi fuel oil arrivals hit almost 600kbd in May – the very top end of seasonal ranges typically reached only in June-July.
- For April-May, Saudi imports of Russian fuel oil have averaged around 120kbd which is around 50% higher than the peak monthly import level in 2022 and around double the pre-war seasonal peaks in imports of around 50-60kbd.
- All of the 2023 Saudi imports from Russia have headed to Saudi ports which are home to thermal power plants and/or water desalination plants which suggests it is for consumption rather than redistribution.
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