China Maintains Fuel Export Quotas Steady for 2024

The first batch of fuel export quotas that China has issued for 2024 is basically unchanged from the first batch of allowances for 2023, Chinese consultancies and trading sources told Reuters on Friday. Chinese refiners are allowed to export diesel, gasoline, and jet fuel under strict quota regulations, with allowances for each refiner that are usually issued three to four times a year.  In the first batch for 2024, Chinese authorities allocated a total of 19 million tons, mostly to top state-owned refining giants Sinopec and CNPC,…