Energy Aspects Slashes Forecast of China’s November Diesel Exports

Reduced domestic inventories will likely result in significantly lower Chinese exports of diesel in November amid the global diesel crisis, analysts at Energy Aspects say as they slashed their estimates of Chinese shipments this month. Energy Aspects now sees China’s diesel exports at about 580,000 tons in November, down by 400,000 tons from the previous assessment, according to a note carried by Bloomberg.

However, there could be upward revisions to the new forecast as refiners may ramp up shipments if domestic demand starts to drop off in the middle of November, as currently expected, the energy consultancy said. Weakening export margins of diesel in recent weeks may also weigh on Chinese refiners’ exports this month, according Energy Aspects.