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China Raises Jan, Feb Fuel Exports Amid Russian Sanctions: JLC

OIL PRODUCTS

China plans 7.6mn tons of fuel exports in January and February, up from 4.07mn tons from the same period last year, as China steps in to replace lost Russian volumes according to Jinlianchuang Energy.

  • This covers 40% of the first back of export quotas of 18.99mn tons.
  • Under the tense situation of diesel oil in Europe the demand for imports has increased, which has led to a significant increase in China's exports to Europe, JLC said.
  • Since the quota was relaxed last August, export volume to Europe will be about 200k tons/month. Previously, Chinese diesel was rarely exported to Europe. The annual volume in 2021 will be less than 120k tons for the full year.
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