China raises May refined fuel exports to 500000 tons
Beijing will allow 500,000 tons of fuel exports in May to help refiners capture overseas margins. Volumes remain below last year due to regional supply concerns.
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China approved 500,000 metric tons of refined fuel exports for May, a 56% increase from April estimates. This volume remains 68% below the 1.6 million ton monthly average recorded throughout 2023. The quota allows state refiners to capture higher international margins as domestic processing profits tighten.
