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Chinese Gasoline Exports at Record High December

OIL PRODUCTS

China's gasoline exports are on course to reach a record high in December as refiners work to reach the increased export quota objective for 2022 according to Vortexa.

  • Between December 1–16, gasoline exports have climbed to hit 660 kbd, up from 370 kbd in October and more than four times the average levels seen in Q3.
  • All December shipments to date have been made to destinations in Asia, with Singapore continuing to be the most favoured.
  • Refiners may need to reduce run rates in January even though China's crude throughput is still robust this month if product export quotas for 2023 are cut to 1H 2022 levels.

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