Data from the General Administration of Customs showed China exported 29.09 million tons of gasoline, gasoil, and jet fuel in the first seven months of 2021, down slightly by 0.3% from the same period in 2020. However, it means that only 7.54 million tons of oil product quota are available through the end of the year, implying reduced outflows over August-December.
Gasoline exports plunged 49% month-on-month to a 14-month low of 740,000 tons in July, which also marked the first time they fell below the 1 million tons in 14 months. Gasoil shipments last month slumped 41.2% month-on-month to a 10-month low of 1.39 million tons. Meanwhile, jet fuel outflows dropped 27.5% to 660,000 tons.
