China Reduces Fuel Export Quotas In Second Batch Of Allocations ...Middle East

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China Reduces Fuel Export Quotas In Second Batch Of Allocations
source : OILPRICE ( Middle East ) () 38
China has issued 9 million tons of export quotas for refined products, mostly to state-held giant refiners, cutting the allocations in the second batch this year compared to nearly 19 million tons worth of quotas in the first batch granted in early 2023.   The lower volumes come amid depressed refining margins in Asia and stronger margins domestically, analysts and trade sources told Reuters. The export quotas, which also include 3 million tons of marine fuel, were issued mostly to large state refiners, with Sinopec, China National Petroleum…

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