MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

China May Cut Oil Product Quotas In Second Batch For 2023

OIL PRODUCTS

China may cut quotas for refined oil products exports in a second batch for 2023 as domestic demand improves while there is less need to boost its economy through oil products exports, a Reuters survey showed.

  • A reduction in oil products exports from China could help ease oversupply in gasoil markets, which has caused Asian refining margins to slump to a six-month low.
  • The second batch of quotas for gasoline, gasoil and jet fuel exports could range between 8-12mn tonnes, the survey of four state refining sources and three consultancies showed.
  • That figure would be down from the first batch of 18.99mn tonnes, although up almost three times on the year, at the high end of the range for estimates, Reuters data showed.
  • "Refineries will be granted around 10mn tonnes of new export quotas in coming weeks, as they could use over 80% of 2023 quotas by the end of April," said Energy Aspects analyst Sun Jianan.
  • The quotas are typically issued only to state refiners Sinopec, PetroChina, Sinochem, CNOOC, China National Aviation Fuel Co and privately-owned Zhejiang Petrochemical.
BulletEnergy BulletsHomepageCommodities
BulletEnergy BulletsHomepageCommodities

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.