South Korean refiners look to benefit from China’s cut in oil product export quotas

摘要

Major South Korean fuel producers said refiners in the country are poised to register healthy oil product sales across Asia and Oceania in the first half 2022 as they look to take over a large chunk of China’s market share after Beijing slashed middle distillate export quotas. “The sharp decline in China’s fuel export quotas would work favorably for the South Korean refining industry as it boosts the 2022 middle distillate trading fundamentals and exports outlook,” a senior official at SK Innovation told S&P Global Platts.