China has issued a larger-than-expected fuel export quota in the third batch of allocations this year as authorities look to incentivize refiners to sustain economic growth and sell more product abroad at a time when China’s 2023 fuel demand may have peaked. Chinese refiners and traders are now allowed to export a total of 12 million tons of gasoline, diesel, and jet fuel in the third batch of quotas, industry consultants JLC and OilChem told Bloomberg. Adding export allowances for marine fuel, the total product export quota rises to 15 million…
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