China's product exports quota reduction: Why and what's next?
Authors Vortexa Market Research Team
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China issued a second batch of 7.5mn mt of product export quota to its domestic refiners this week, which is significantly reduced from the first batch of 29.5mn mt export quota issued at the start of the year.
Our APAC analysis team, Emma Li and Serena Huang, discuss the reasons for the steep reduction in China’s product export quotas, and the implications to both China and the wider Asia market.