China’s gasoline exports jump

Oil

China’s gasoline exports rose to 504K b/d in January and February, an increase of 111K b/d (or 28%) from December’s figure and up by 123K b/d (or 32%) compared to the same period last year, according to China customs data. This jump in exports comes as refineries looked overseas to relieve building inventory pressure, caused in part by reduced domestic fuel demand amid coronavirus travel restrictions, Reuters report. Loadings of diesel also edged up by 3K b/d y-o-y to 431K b/d, whereas exports of jet fuel tumbled by 265K b/d (or 70%) y-o-y to 116K b/d