Diesel Export Volume Hit a New High in November

According to China Customs, China exported 2,025.5kt of diesel in November 2017, up 67.59% M-O-M and 37.52% Y-O-Y. Besides, the total export volume of diesel from January to November 2017 was 15,261.1kt, up 12.05% Y-O-Y. In November 2017, China only imported 1.1kt of diesel, down 99.10% M-O-M and 92.05% Y-O-Y. Moreover, the total import volume of diesel from January to November 2017 was 744.5kt, down 8.13% Y-O-Y.

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In December, the international crude oil prices fluctuated within a wide range, giving thin support to the diesel market. Besides, with the weather getting colder, the outdoor infrastructures were intensively stopped, and units at most refineries were shut down curbed by the off-peak production. Therefore, the demand for diesel declined. Besides, the diesel supply is quite ample. As most refineries intend to complete the annual sales task, it is estimated that the export volume of diesel in December will remain relatively high.