China's diesel and jet fuel exports slumped in July while gasoline shipments stayed strong, figures from China's general administration of customs (GAC) show.
Diesel exports fell for a fourth straight month to a five-year low of 133,000 b/d in July, a 48.8pc drop from a month earlier, as overseas demand as export margins stayed weak. Last month's exports were down by 80.5pc from an all-time high of 681,000 b/d in March and 64.9pc lower than in July 2019, the GAC data show. Diesel exports were last lower at 131,000 b/d in July 2015.
Exports averaged 419,000 b/d in January-July, down by 12.7pc compared with the same period last year.
Gasoline exports held relatively strong in July at 307,000 b/d, a 42.6pc rebound from June's level but down by 28.2pc from July last year. State-controlled refinery operators increased exports last month, after spot gasoline prices in Singapore rose and export economics improved. Gasoline exports averaged 359,000 b/d in January-July, up by 7.4pc from the same period last year.
Jet fuel exports recorded the worst performance in July, slumping by 77.1pc from a year earlier and 59.8pc from June to 81,500 b/d, the lowest since at least November 2011. January-July exports averaged 300,000 b/d, down by 18pc from a year earlier.
