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Asia: China Ups Diesel Exports, Helps Ease Global Shortage

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With the help of government-issued quotas, China’s refiners are gearing up for bumper transportation fuels exports. These shipments are helping to ease a global shortage of middle distillates. China’s diesel production reached a new record high of 18.83 million tons in October, or 4.53 million barrels per day, up 6.3% from September, and up 30.5% from October 2021. High runs are expected to continue in November and December, just when domestic demand for gasoil may soon peak with winter reducing demand from the construction sector, which has also been hit by the property crisis. It leaves even more available for exports, which also pads the profits of national oil companies.

Topics:
Diesel/Gasoil, Oil Supply, Refining, Oil Prices, Oil Products
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