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Singapore diesel Cracks Buoyed by Limited China Exports: Sparta

OIL PRODUCTS

Limits to China’s diesel exports and low middle distillate stocks could support Singapore cracks in the near-term, according to Sparta’s analyst James Noel Beswick, cited by Bloomberg.

  • China’s refined product exports, based on the first batch released, are around 19m mt. By contrast, the market was expecting around 30m mt.
  • “The continuous limitations on Chinese diesel exports, allied with Singapore middle distillate stocks currently being at 5-month lows, are anticipated to sustain upward pressure on Singapore diesel cracks for the foreseeable future,” Beswick said in a note.

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