China’s clean product exports to Southeast Asia fall to one-year low

Oil

China’s clean oil product exports to Southeast Asia declined by 200K b/d m-o-m to 470K b/d in July, falling to a one-year low as total exports tumbled by 530K b/d m-o-m to 700K b/d, the lowest level since September 2020, according to China customs data. Shipments to the Americas decreased by 60K b/d m-o-m to 60K b/d after previously reaching the highest level since 2016 at 120K b/d in June, with loadings to Northeast Asia also plummeting by 140K b/d m-o-m to 100K b/d.