China's exports of refined oil products could start 2023 with a drop of 40% in January from December's figure, as Lunar New Year travel demand boosts domestic consumption of transport fuels, trading sources and analysts said.
The fall in exports from China, which has the world's second-largest refining capacity after the United States, is expected to underpin Asian refiners' margins for transport fuels.
On Friday, China reported its December refined fuel exports, which also include marine fuel oil, at 7.7 million tonnes, the highest since April of 2020 and up a quarter from November, although 2022 annual exports remained 11% below 2021.Estimates for January exports of diesel, gasoline and jet fuel are between 3.8 million and 4.1 million tonnes, say Chinese consultancies Longzhong, JLC, and several trade sources.
"Wholesaler and retail prices, especially for gasoline, have increased since the start of the year," said one trading source based in China, speaking on condition of anonymity.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The Mulberry x Miffy Lunar New Year Collab Is Just Too GoodThe 24-piece capsule features a series of bags (including a Miffy-stamped Bayswater!) and kitschy accessories, from key charms to phone cases to AirPod holders:
Leer más »
How to celebrate Lunar New Year 2023 in San Diego CountyLunar New Year is a celebration of the beginning of a new year on the lunar calendar for many Asian cultures, and celebrations are taking place across San Diego County.
Leer más »
Lunar relations: The U.S., China and a new brand of space raceNASA is hopeful that a new international coalition will help propel its return to the moon.
Leer más »
New Year, New Cleanse: 10 Celebrity Beauty Experts’ Favorite DetoxesLooking to start fresh in 2023? Try one of these detoxes for hair, skin, nails, and gut health.
Leer más »
New Year, New Video Game Releases for Gamers of All AgesCheck out the discussion our BrittonPeele had with NBCDFW on recently released video games worth a look, and read our story for more details. 👀 Watch: 👓 Read the story:
Leer más »