China’s diesel exports recover in August

Oil

China’s diesel exports increased by 130K b/d (or 97%) m-o-m to 260K b/d in August, recovering after previously declining for four consecutive months and reaching the lowest level since May 2015 in July, according to China customs data. However, diesel exports are down by 55K b/d (or 17%) y-o-y, and are 52K b/d lower than the five-year average for August. Jet fuel exports fell for the second month in a row, decreasing by 5K b/d m-o-m w to 75K b/d, which is the lowest level since January 2007. Gasoline exports rose by 30K b/d m-o-m to 330K b/d, increasing for the third consecutive month, however this a decline of 280K b/d y-o-y.