MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Japan Oct Core CPI Rises 2.3%, Services Rise

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -18

MNI JAPAN OCT CORE CPI +2.3% Y/Y; SEPT +2.4%

MNI: FED BALANCE SHEET TOTAL ASSETS -$43B TO $6.924T IN WEEK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US Pulling Strong Sour Maya Crude Volumes

OIL

The US is on track to take in higher imports of crude oil from Mexico in July for a second month as demand for sour crude replacements ticks higher.

  • Mexico now finds grades such as its heavy Maya sour in high demand, particularly from nearby US buyers according to Kpler.
  • Mexico is set to send around 770,000 bpd of oil to the US this month based on Kpler projections. That is after Mexico sent about 825,000 bpd to the US in June, the highest amount since November 2015.
  • Mexico’s overall oil exports are on track to leave at 1.02mn bpd in July – easing slightly from 1.31mn bpd in June, its highest since February 2019.
  • Maya’s discount to international benchmark Brent is on track to tighten to about $8.70/bbl in Q3, much tighter than its $14.50/bbl discount in Q2.
  • US sour crudes are typically remaining within the country according to Vortexa while also increasing its imports from Saudi Arabia and Iraq.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.