Beijing — China exported record volumes of diesel and petrol in September, data showed on Friday, as oil majors in the world’s top energy market sell excess product abroad amid slackening local demand and surging output. Diesel exports jumped 44% to 1.6-million tonnes in September, overtaking July’s record high of 1.53-million tonnes, according to Chinese customs figures. Petrol shipments rose 37% to 840,000, while kerosene exports fell 13.2% to 1.08-million tonnes. The increase in sales abroad during what is typically China’s busiest period of consumption will further unsettle the saturated global refining market. "With the slump of the Chinese economy, domestic demand is keeping at a weak level," said Li Yan, a Zibo Longzhong information technology analyst.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.