China has increased its fuel export quotas by as much as 46% for the first batch of 2023 allocations compared to the first batch of 2022
Chinese authorities have approved exports of gasoline, diesel, and jet fuel of 18.99 million tons—an increase of 46% over the 13 million tons of fuel export quotas China allocated in the first batch for 2022 as authorities seek to keep refining output high amid sluggish domestic demand.
At the end of last year, despite lukewarm domestic demand, Chinese refiners were boosting production and exports to profit from high diesel margins in a very tight global market. The refiners had the
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