China's May Gasoline Exports Tumble 27.8 Percent

China exported about 847,700 mt of gasoline in May 2019, a drop of about 326,900 mt or 27.8% from April, according to data from the country's General Administration of Customs (GAC).

On a year-on-year comparison, May exports slumped by about 622,300 mt or 42.3%, the GAC data indicates. 

The plunge might be due to limited quotas after large exports earlier this year. The country didn't issue this year's second batch of quotas for refined oil exports until the middle of May.

Gasoline exports in January-May amounted to about 5.78 million mt, a fall of 7.39% from the same period in 2018, versus a year-on-year boost of 3.26% in January-April, the GAC data says.

China has been boosting gasoline exports as domestic supply grows faster than demand. The country's gasoline production amounted to 59.19 million mt in January-May, an increase of 4.0% from the corresponding period in 2018, according to data from the National Bureau of Statistics.

China imported 35,645.71 mt of gasoline in May 2019, versus 42.55 mt in April, the GAC data indicates. Imports in January-May totaled about 110,231 mt, up by 176% year on year. 

By JLC International

More Top Reads From Oilprice.com:

• Oil Prices Hinge On These Two Major Events
  
• The Oil Crisis Saudi Arabia Can't Solve
  
• This Strategic Asian Nation Helps Iran Skirt Oil Sanctions