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OIL PRODUCTS
China’s refined oil exports were 3.1m mt in February, up 4% on the month, according to OilChem.
- Refined oil exports constituted: 1m mt of gasoline, 0.84m mt of gasoil, and 1.26m mt of jet fuel/kerosene.
- The rise in exports on the month was attributed to higher export profits, OilChem said. Export margins of gasoline and gasoil via ports in East China rose 38.9% and 16.7% respectively in February.
- Gasoline demand in Asia was supported by the Chinese New Year holiday. Gasoil demand was poor in the region, but export profits were buoyed by rising crude prices.
- A sluggish recovery in domestic demand also prompted a rise in cargoes being shipped overseas.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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