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OIL PRODUCTS: China Refined Oil Exports Down 3.5% on Month in Oct: OilChem

OIL PRODUCTS
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China’s exports of refined oil, namely gasoline, gasoil, and jet fuel, stood at 2.60m mt in October, down 3.51% on the month, according to GACC data, cited by OilChem.

  • This represents a fall of around 23.7% on the year.
  • The monthly fall was mainly driven by falling jet fuel exports, which showed a monthly fall of 10.17% at 1.45m mt. This was 8-.65% of planned volumes.
  • Meanwhile, gasoline exports also declined 7.99% at 0.67m mt in October.
  • However, the exports of gasoil rebounded 36.81% on the month to 0.48m mt, nearly doubling from the original plan of 0.25m mt.
  • China’s refined oil exports totalled 31.46m mt Jan-Oct, down 10.87% on the year.
  • OilChem said that there are still 9.54m mt of export quotas remaining for the last two months of 2024. Consequently, it is likely that exports will accelerate in Nov and Dec.

 

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China’s exports of refined oil, namely gasoline, gasoil, and jet fuel, stood at 2.60m mt in October, down 3.51% on the month, according to GACC data, cited by OilChem.

  • This represents a fall of around 23.7% on the year.
  • The monthly fall was mainly driven by falling jet fuel exports, which showed a monthly fall of 10.17% at 1.45m mt. This was 8-.65% of planned volumes.
  • Meanwhile, gasoline exports also declined 7.99% at 0.67m mt in October.
  • However, the exports of gasoil rebounded 36.81% on the month to 0.48m mt, nearly doubling from the original plan of 0.25m mt.
  • China’s refined oil exports totalled 31.46m mt Jan-Oct, down 10.87% on the year.
  • OilChem said that there are still 9.54m mt of export quotas remaining for the last two months of 2024. Consequently, it is likely that exports will accelerate in Nov and Dec.

 

Keep reading...Show less