China to Allow a Lot More Fuel Exports in Possible Boost to Oil
- Refiners, traders get 15 million tons in new allocation: JLC
- Processors in Shandong also receive crude import quota
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China issued its biggest fuel-export quota this year, a highly anticipated allocation that could offer a lifeline to a faltering oil market.
Refiners and traders have been given 15 million tons of new quota, which could possibly be rolled over into the first quarter of next year, according to industry consultant JLC. China’s ministry of commerce didn’t immediately reply to two faxes seeking confirmation of the additional allocation.