Chinese product exports fall

摘要

China's efforts to ward off product shortages have cut exports to a 20-month low of just 180,000 b/d at the expense of lower refinery throughputs.Beijing's official drive to reduce exports is choking Chinese refiners' only profitable sales,reducing the incentive to keep runs high.Refinery runs dropped below 5.8mn b/d in October,and refiners are not expecting to raise output significantly for the rest of this year because of low margins.