In the week to May 17, gasoil and jet fuel margins were pressured down during the second half of the period by weak demand, but the downside was limited as refiners were planning to cut runs, market sources noted. At the start of the week, gasoil margins touched a one-month high. Vietnam and Indonesia, the region's biggest importers, were largely absent from the markets, overshadowing pending supply cuts from South Korea and China in the months ahead. "The market is just very lousy right now," a trader said. "I don't think many people are able to make money with just a few oudets." Several refineries in Europe, an arbitrage destination for Asian middle distillates, have already begun cutting output due to weak margins, market sources said. Chinese Sinopec was expected to reduce diesel exports this month as the state-run oil firm reportedly already exhausted May quotas set by the government. Traders said it was unclear if Sinopec would increase exports again in June when the firm receives a new quota. Sinopec exported 400K mt/month (3MM b/month) of diesel in both March and April.
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机译：市场消息人士指出，在截至5月17日的一周中，汽油需求和疲软的需求压低了汽油和喷气燃料的利润率，但由于炼油厂计划削减产量，因此下行空间有限。本周初，汽油利润率触及一个月高点。越南和印尼是该地区最大的进口国，基本上没有市场，在接下来的几个月中，韩国和中国即将进行的减产使该地区黯然失色。一位贸易商称：“目前市场非常糟糕。” “我认为没有多少人能用几本来赚钱。”市场消息人士称，由于利润微弱，欧洲几家炼油厂已成为亚洲中间馏分的套利目的地。据报道，由于该国营石油公司已经用尽了政府设定的5月份配额，预计中国石化本月将减少柴油出口。贸易商表示，目前尚不清楚中石化是否会在6月该公司获得新配额后再次增加出口。中国石化在3月和4月均出口了40万吨/月（3 MM b /月）的柴油。
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