China has considerably reduced the allowances for fuel exports in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output
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Chinese authorities have granted 11 percent lower crude import quotas to independent refiners in the world’s top oil importer in the first batch of quota allowances for 2022
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Indian and Chinese oil buyers are snapping up Middle East crude after spot premiums for February-loading cargoes slumped by more than half to three-month lows on improved supplies to Asia. Easing concerns about the impact of new coronavirus variant Omicron on Asia’s fuel demand are also supporting Asian refiners’ margins, trade sources said. “It’s quite .