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China’s Planned Refined Oil Exports Down 40% in Nov


China’s planned exports of refined products are expected to be 2.51m mt in November, down 39.7% on October levels, according to OilChem.

  • It is also down 48% compared to planned exports of gasoline, gasoil, and kerosene in November 2022.
  • One of the causes of the drop is a lack of export quotas remaining in Q4. From Jan-Sep, exports of refined products totalled 31.89m mt, around 80% of the 39.99m mt assigned in the first three batches of export quotas.
  • Export profits have also narrowed across the refined products, which is disincentivising moving products abroad. A fall in global crude prices in October has also pushed down gasoline prices in Singapore, the regional hub.

Source: OilChem

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