Chinese gasoline exports slumped by 44% in August from a year earlier as export margins turned negative and refiners started using up their government-mandated export quotas. China exported 770,000 tons of gasoline last month, down by 44% compared to August 2023, according to Chinese customs data quoted by Bloomberg.
Refiners have been struggling with weak refining margins and low and sub-zero export margins on fuels amid weaker-than-expected demand in the region. Moreover, refiners and fuel sellers are estimated to have already used around 80%…China’s Gasoline Exports Plunge 44% on Loss-Making Margins
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