China's refined oil exports have been planned at 3.29 million tonnes in April, a monthly fall of 22.04% from the planned exports in March, up 44.17% year on year, per OilChem sources.
Source: Mysteel OilChem
Looking back on January-April 2024, the exports of kerosene have been active, which took up 58% of the total planned exports in April, partly because of the recovery of global airlines. The proportion of gasoline dropped with a ratio of 17% in April as domestic consumption has been recovering with the climate warms up. The proportion of gasoil exports seemed to be volatile without specific rules.
Source: Mysteel OilChem
China's refineries are expected to have consumed 70% of the first batch refined oil export quotas after taking into account the April export plans. The second batch may be on the way as some refineries have consumed all the quotas assigned.
Written by Aggie Hu, huchenying@mysteel.com
Edited by Navy Liu, liuchuanjun@mysteel.com