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China Steps Up Diesel Exports

OIL PRODUCTS

China’s diesel exports increased significantly in September, returning to pre-restriction levels, supporting the global diesel shortage.

  • Exports stood at 1.73mn t in September, up from an average of 460kt/m between August 2021 and August 2022, General Administration of Customs data shows.
  • Exports averaged 1.72mn t between 2018 and 1H 2021, prior to restrictions.
  • An acceleration of exports is providing some relief to the global diesel shortage, but it will unlikely be enough to stabilise and rebuild global inventories, amid Russian supply disruptions.
  • Beijing had restricted exports of gasoline and diesel over the previous 13 months to control domestic refining capacity and to assist towards long-term climate targets.
  • Diesel exports could reach 1.8m to 2.2m tonnes in November with the 15m t additional fuel export quota announced at the end of September.


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China’s diesel exports increased significantly in September, returning to pre-restriction levels, supporting the global diesel shortage.

  • Exports stood at 1.73mn t in September, up from an average of 460kt/m between August 2021 and August 2022, General Administration of Customs data shows.
  • Exports averaged 1.72mn t between 2018 and 1H 2021, prior to restrictions.
  • An acceleration of exports is providing some relief to the global diesel shortage, but it will unlikely be enough to stabilise and rebuild global inventories, amid Russian supply disruptions.
  • Beijing had restricted exports of gasoline and diesel over the previous 13 months to control domestic refining capacity and to assist towards long-term climate targets.
  • Diesel exports could reach 1.8m to 2.2m tonnes in November with the 15m t additional fuel export quota announced at the end of September.


Keep reading...Show less