China’s Diesel Exports Set to Plunge as Domestic Inventories Run Low

China’s diesel exports are on track to drop in November from the highs seen in August and September as increased fuel shipments at the end of the summer dented domestic inventories, traders and executives with knowledge of this month’s export plans told Reuters on Thursday. So far this month, Chinese refiners have sold about 500,000 metric tons of diesel for November loading, according to estimates by Reuters and trade sources.

8 million tons in September. China’s fuel export policies have varied from month to month since the Middle East crisis throttled supply of crude and fuels early this year. Authorities and refiners have prioritized domestic supplies; that’s why China restricted fuel exports between April and July.