China's Ministry of Commerce released this week a fifth batch of product export quotas after coming under pressure from state-owned oil companies looking for overseas outlets amid fierce competition at home. Chinese state firms have been allowed to export an extra 5 million tons of products over the next two months, of which 3 million tons will be gasoil, a trading source told International Oil Daily. This will likely lead to a surge in exports this month and next.
展开▼
