China’s diesel exports fall to five-year low

Oil

China’s diesel exports declined by 69K b/d m-o-m and 276K b/d y-o-y to 79K b/d in December, falling to the lowest level since March 2015, according to China customs data. Shipments were pressured by limited remaining export quotas for the year, as well as a slowdown in domestic demand, Reuters reported. Total clean oil product exports fell by 137K b/d m-o-m and 375K b/d y-o-y to 482K b/d, the lowest since July 2015. Loadings of kerosene also fell by 97 b/d m-o-m to a seven-month low of 149K b/d after previously reaching a 19-month high in November, however gasoline exports rose by 28K b/d m-o-m to 255K b/d.