Asia Viewpoint: by Ma Dongwei

China plans to export 1.64 mil mt of oil products in September, about 3.5 times the planned amount in August. The second batch of oil products export quotas was released in early August and refineries that had utilized their previous quota were actively exporting. Asa result, some sources reckoned that actual exports in August might be higher than planned. Compared to the same period last year, however, exports were still expected to decrease.

By products, planned exports for gasoline in September were 1.05 mil mt, more than 6 times the planned amount in August but down 10% from the same period last year. Planned exports for gasoil in September were 590,000mt, about twice the planned amount in August but down 51% from the same period last year.

Export volumes in the second half of the year are expected to continue to fall but the drop might be less sharp compared to the first half of the year.

Unit: 10kt