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China Product Exports Increasing with Higher Quotas

OIL PRODUCTS

China’s gasoline exports increased from last month while diesel exports declined according to General Administration of Customs data.

  • Gasoline exports rose 51% to 1.0m tons in October while diesel fell 38% to 1.06m tons.
  • Product exports are increasing due to additional export quotas after export restrictions from China for the previous 13 months. In September China added an additional 13.25m tonnes of fuel exports quota to help boost the economy and to capture the higher margins.
    • July Gasoline exports 1.0m tons, -0.5% Y/y
    • July jet fuel exports 1.16m tons, +39.4% y/y
    • July diesel exports 1.06m tons, +90.5% y/y
    • July oil products imports 2.53m tons, +17.6% y/y
    • July naphtha imports 880,000 tons, +18.7% y/y
    • July jet fuel imports 30,000 tons, -77.1% y/y
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