China has increased its fuel export quotas by as much as 46% for the first batch of 2023 allocations compared to the first batch of 2022, consultancies based in China told Reuters on Tuesday. Chinese authorities have approved exports of gasoline, diesel, and jet fuel of 18.99 million tons—an increase of 46% over the 13 million tons of fuel export quotas China allocated in the first batch for 2022 as authorities seek to keep refining output high amid sluggish domestic demand. The biggest Chinese state-held refiners, as well as large private…
