Mideast Gulf gasoline importers are delaying or shifting away from term contracts in favour of spot purchases. New Indian refineries have increased the supply of gasoline in the region. But these supplies have not found a long-haul outlet in the US, where imports of gasoline and components fell by 130,000 b/d in January-September from a year earlier. And rising Chinese refinery output has limited Indian refiners' eastbound export options, backing up more gasoline in the Mideast Gulf spot market, and making term contracts less attractive to importers.
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