China’s Oil Product Exports Plunge As Quotas Are Slashed ...Middle East

Chinese exports of gasoline and diesel plunged in July compared to June, after China slashed the quotas of authorized exports of refined petroleum products, according to data from the General Administration of Customs quoted by Reuters on Wednesday. Chinese exports of gasoline, diesel, and jet fuel are expected to drop off significantly for the rest of the year because of the slashed quotas, analysts say. In July, China’s diesel exports slumped by 41 percent, and gasoline exports plummeted by 49 percent as refiners ran out of export quotas…

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