China’s clean product exports decline in October

Oil

China’s clean oil product exports declined by 64K b/d m-o-m and 529K b/d y-o-y to 616K b/d in October, according to China customs data. Shipments of diesel fell by 58K b/d m-o-m and 385K b/d y-o-y to 134K b/d as refiners diverted additional supplies to the domestic market in order to compensate for a supply shortage following months of production curbs, Reuters reported. Shipments of jet fuel decreased by 22K b/d m-o-m to 209K b/d, whereas gasoline exports increased by 15K b/d m-o-m to a four-month high of 274K b/d. Across the first ten months of the year China’s clean oil product exports have averaged 933K b/d, a decline of 64K b/d compared to the same period in 2020.