China July gasoline exports strong but diesel, jet fall

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.