China Maintains Fuel Exports as Domestic Demand Weakens

China issued an expected second batch of fuel export quota to its biggest refiners as domestic demand slowed after a recent holiday boost.

Seven refiners and traders received permission to export 9 million tons of gasoline, diesel and jet fuel in the second allocation for 2023, according to industry consultant JLC, which didn’t say where it got the information.

The Ministry of Commerce, which oversees the allocations, didn’t immediately respond to a request for comment.

The widely anticipated quota coincides with an expected dip in local fuel demand following a surge during the Labor Day holidays at the start of ...