Free Trial

Chinese Diesel Exports Boosted in February on Weak Domestic Market

OIL PRODUCTS

China diesel exports were at a one-year high last month as a weak domestic market pushed higher volumes overseas.

  • China exported 1.42 million tons of the fuel (or 342,000 bpd), more than double the volume in February according to official figures.
  • Chinese diesel output increased to 18.7 million tons in March - the highest since October.
  • Chinese refiners still await the second batch of oil product export quotas for the year. OilChem expects the quota to be 18mn tons and to be issued in May.
  • It forecasts that refiners will boost oil product exports this month on the expectation of the new quotas.
  • Declining global diesel cracks will however hamper Chinese refiner profits on the export market.
117 words

To read the full story

Close

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.

China diesel exports were at a one-year high last month as a weak domestic market pushed higher volumes overseas.

  • China exported 1.42 million tons of the fuel (or 342,000 bpd), more than double the volume in February according to official figures.
  • Chinese diesel output increased to 18.7 million tons in March - the highest since October.
  • Chinese refiners still await the second batch of oil product export quotas for the year. OilChem expects the quota to be 18mn tons and to be issued in May.
  • It forecasts that refiners will boost oil product exports this month on the expectation of the new quotas.
  • Declining global diesel cracks will however hamper Chinese refiner profits on the export market.