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China Issues 14mn Ton Oil Product Export Quota - Second Batch

OIL PRODUCTS

China issued fuel exporters a second batch of quotas of 14mn tons of diesel, gasoline and jet fuel according to OilChem and JLC.

  • It increases this year’s allocation to 33mn tons – 18% higher than the first two batches last year.
  • Fuel exports from Chinese refiners this month are expected to be 6.5% higher than April, and up 26% from a year earlier according to OilChem.
  • A third quota is expected later this year, bringing total volumes in line with 2023 levels of nearly 40mn tons.

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