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China Releases Extra 3mn Ton Fuel Oil Quota for Non-State Refiners

REFINING

China has released a further 3 million metric tons in fuel oil import quotas in 2023 for non-state firms according to the Ministry of Commerce Monday.

  • It takes the total for 2023 to 19.2mn tons.
  • “The price premium on M100 fuel oil over Singapore MOPs 380cst rose to $80 per ton in late November, up from around $60 to $65 per ton in October due to strong demand from China amid tight supply of low sulphur feedstock” Reuters reported.
  • See link for official statement: http://www.mofcom.gov.cn/article/zcfb/zcdwmy/202311/20231103456731.shtml

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