China’s March gasoil exports surge 79.4% month on month

摘要

SINGAPORE (ICIS)--China’s gasoil exports jumped by 79.4% month on month in March,the latest official data showed.According to ICIS data,theoretical margins for gasoil exports widened in March which increased to yuan (CNY) 273.2/tonne on average.As the new integrated refining projects of Hengli Petrochemical started a presale of refined oil products,the domestic supply glut was exacerbated.As a result,the state-owned refiners increased the export volume in order to ease domestic sales pressure.