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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.
CRUDE
US crude deliveries to Asia are set to touch 1.81mn bpd this month according to Kpler, climbing from 1.52mn bpd in October and 1.2mn bpd in September (see chart).
- Refineries in China and India are returning as bigger buyers of US crude after several months of them leaning on cheap Russian barrels.
- Asian buying demand is being driven by global diesel tightness and soaring margins.
- US crude exports touched a weekly record of 5.1mn bpd last week.
- South Korea is set to import a record 619,000 bpd of US crude this month, according to Refinitiv vessel tracking, becoming the month’s top Asian importer of US crude.
- China will draw at least 450,000 bpd, its highest since December 2020 while India’s demand is forecast to be the highest since March.
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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