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Jet Fuel Leads Recovery of China’s Oil Exports: BNEF

OIL PRODUCTS

China issued a new batch of 12m mt of exports, bringing the total year to date quota to 40m mt, up 7% on the previous year.

  • Around 60% of the total quota for the year has been used in the first 7-months of 2023.
  • Jet fuel exports remained elevated during the summer, while jet fuel production in refineries was boosted by higher travel demand.
  • Refiners have ramped up kerosene production to record levels to capture favourable export margins, BNEF said.
  • Monthly kerosene exports in July were at their highest since December, just shy of 1.5m mt.


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China issued a new batch of 12m mt of exports, bringing the total year to date quota to 40m mt, up 7% on the previous year.

  • Around 60% of the total quota for the year has been used in the first 7-months of 2023.
  • Jet fuel exports remained elevated during the summer, while jet fuel production in refineries was boosted by higher travel demand.
  • Refiners have ramped up kerosene production to record levels to capture favourable export margins, BNEF said.
  • Monthly kerosene exports in July were at their highest since December, just shy of 1.5m mt.


Keep reading...Show less