China’s diesel exports in June rose almost three-fold compared to a year ago, reaching 820,000 metric tons (203,633 barrels per day), according to data from the General Administration of Customs. This represents a 180% increase from the 290,000 metric tons exported in June 2023, although it was down from May’s 1.07 million metric tons.
The surge in diesel exports comes as China’s domestic demand remains in the doldrums, with sluggish real estate and manufacturing activity, as well as increased penetration of trucks using LNG instead of diesel.
China’s total refined fuel exports, including marine fuel, reached 5.37 million metric tons, up 19% from the year-earlier level. Gasoline exports slid 2% on the year to 930,000 metric tons, but were up from 860,000 metric tons in May. Aviation fuel exports were 1.65 million metric tons, a 53% increase on the year and up slightly from 1.59 million last month.
The higher refined fuel exports came as China’s overall refinery output fell to a six-month low in June. Independent refiners scaled back operations on lower processing margins and weak fuel demand.
Imports of liquefied natural gas (LNG) also fell to 5.62 million metric tons, the lowest level since October and down 5% from a year ago.