China’s fuel shipments stay weak as annual quotas run dry
by Bloomberg Dec 18, 2023
China’s exports of diesel and gasoline dropped sharply in November from the previous year as annual quotas are exhausted.
The nation exported 1.16 million tons of diesel last month, 45% lower on the year. Gasoline shipments fell 40% to 890,000 tons. Both figures were higher than October’s levels, however.
Chinese refiners have been skimping on their fuel exports after Beijing told them not to expect any top up in quota allocations for the rest of the year.
Top Chinese refiner Sinopec has since asked the government for an additional 800,000 tons of quota for so-called clean refined products, which also include jet fuel.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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